Federal Reserve economist sees good news for Michigan around the corner
Sam Kahan, senior economist with the Federal Reserve Bank of Chicago, Detroit Branch foresees growth in Michigan’s non-manufacturing sectors. He spoke at the Birmingham Bloomfield Chamber Economic Forecast lunch about Michigan’s economy.
Sam Kahan, senior economist with the Federal Reserve Bank of Chicago, Detroit Branch foresees growth in Michigan’s non-manufacturing sectors. He spoke at the Birmingham Bloomfield Chamber Economic Forecast lunch about Michigan’s economy.
Excerpt:
He said, “25 percent to 35 percent of the (Michigan) economy is tied to the auto industry.” But that leaves 65 percent or so not dependent on the auto industry, which is undergoing a traumatic restructuring leading to massive layoffs. There is opportunity for growth in the non-auto areas.
“It will be a little bit here, a little bit there … the seeds of success are there,” he said.
Read the entire article here.
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