Why Southeast Michigan's economy is bouncing back
Timothy Butler, associate professor at Wayne State University's School of Business Administration, details how Southeast Michigan's economy – of which the automotive industry is a major piece – is recovering. Butler sees a rosier economic climate in Southeast Michigan, which was hit hard by the U.S. industrial decline of the 1990s and the more recent Great Recession. Since then, he says, the region has grown steadily, with its economy “modestly improving.” Drawing on the Regional Purchasing Managers’ Index for Southeast Michigan, Wayne State conducts a regular survey of local economic activity. It polls companies about the comparative levels of orders and inventory, in addition to trends in commodity pricing. The survey has become “the major benchmark for assessing economic activity in the region,” Butler says.