The COVID-19 pandemic will take a fast bite of more than $3 billion out of West Michigan’s economic output, driving the region into recession along with the rest of the country.
University of Michigan economists expect the coronavirus and COVID-19 pandemic to drive the U.S. economy into recession for the second quarter.
Today’s emergency interest rate cut could aid a slowing U.S. economy facing a significant threat from the coronavirus outbreak, according to Comerica Inc. economists.
The U.S. economy maintained moderate growth to start 2020, although the coronavirus crisis in China could cause problems.
This is the growth report for Feb. 2, 2020.
SHELBY — Family-owned fruit processor Peterson Farms Inc. is expanding its operations in Oceana County, north of Muskegon.
SPARTA — ChoiceOne Financial Services Inc. wasn’t actively looking to do another deal, but the parent company of ChoiceOne Bank saw an opportunity with Community Shores Bank Corp. that was too good to pass up.
Business owners surveyed by PNC Bank remain optimistic about the local and national economies, despite worries about tariffs and pricing pressures and outlooks for slower growth ahead.
Optimism about the economy remained high going into the third quarter among Michigan businesses surveyed by PNC Bank.
Rising interest rates won’t lead to change in how banks underwrite credit, although business borrowers need to monitor their effects if they opt for a variable-rate commercial loan.