Commercial bankers say clients’ demand for credit remains strong, although borrowers in West Michigan are carefully watching what’s ahead for the economy.
Robert Dye views 2019 as a “transitional year” for the U.S. economy as a trio of forces align to moderate growth during the year.
Mergers and acquisition activity remained strong in West Michigan through the third quarter, as many sellers opted to go to market while they can still get a good price for their businesses.
Comerica Inc. Chief Economist Robert Dye sees Michigan’s economy performing in the second half of 2018 much as it has in the first half, with continued growth but at a decidedly slower rate than in past years.
M&A activity remained strong in the first quarter, driven by a combination of factors including federal tax reform.
DETROIT –– Just a few years ago, Doug Rothwell could look at various bits of Michigan’s economic data and see few paths that led to the state becoming a “Top 10” state.
As the U.S. and Michigan economies remain on solid footing into 2018, economists expect growth rates for personal income in the state to move higher.
Economic outlooks project modest growth in the U.S. for the rest of this year and through 2018, along with further increases in interest rates.
Higher interest rates during 2017 haven’t acted as a damper on commercial lending in West Michigan, although some lenders are seeing borrowers moving to fixed-rate business loans.