University of Michigan economists expect the coronavirus and COVID-19 pandemic to drive the U.S. economy into recession for the second quarter.
Economists at Comerica Inc. now expect the U.S. economy to possibly dip negative for the second quarter as a fallout of the coronavirus pandemic.
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.
Backers of legislation that would bar employers in Michigan from requiring certain employees to sign a non-compete agreement say they simply want the free market to work.
The statewide advocacy group for automobile dealers says “more questions than answers” follow a recent settlement agreement between California electric vehicle manufacturer Tesla Inc. and the state.
Michigan’s venture capital industry made further progress in 2019 as investors put a record $771.6 million into 115 deals with state-based companies, according to Pitchbook and the National Venture Capital Association. Despite the industry’s growth, David Brophy says a lot more needs to happen to further build venture capital in Michigan to seed and grow more startups and attract more investors, particularly large institutional investors who can put money into Michigan-based funds. Brophy serves as director of the Center for Venture Capital and Private Equity Finance at the University of Michigan and is founder of the annual Midwest Growth Capital Symposium. He spoke with MiBiz about the status of venture capital in Michigan.
An assortment of state-backed capital funds and initiatives to support business startups, innovation and entrepreneurs recently earned renewal in Lansing.
For this 13th installment of Crystal Ball, MiBiz reporters interviewed dozens of West Michigan executives about their outlook for the state and national economy and the indicators they’re watching as they prepare their businesses for the new year. While no single issue seemed to rise to the top this year, here’s a subjective list of their concerns that came up most often, ranked in no particular order.
Fears of a national recession in 2020 are largely unfounded. So insists Jim Robey, director of regional economic planning services at the Kalamazoo-based W.E. Upjohn Institute for Employment Research.
A combination of factors came together in 2019 to take a bite out of Michigan’s economy. The six-week General Motors strike, white-collar job cuts at GM and Ford early in 2019, a slowing manufacturing sector, and relatively flat auto sales collectively held back the state’s growth this year.