July 30, 2012 at 1:00 am
Michigan’s recovery outpaces rest of U.S.
Confidence rises along with home, retail sales
By Jaclyn Trop
The Detroit News
Michigan fell the hardest during the recession, but it’s bouncing back better than the rest of the country.
While economic uncertainty in Europe is creating a cloud over the U.S. economy, and the state’s unemployment rate has ticked up two-tenths of a percentage point to 8.6 percent in the past two months, existing home sales and retail sales in Michigan are doing better than elsewhere in the country.
“We’ve been telling our clients since late 2011 that Michigan is turning the corner faster economically than any other state in the country,” said Patrick Anderson, founder and CEO of the East Lansing-based consulting firm Anderson Economic Group.
Home sales are up 10 percent through June in the Great Lakes State compared with the nation’s 5 percent growth rate, according to the National Association of Realtors. And the state’s retail sales surged in April and May, while the national figure fell 0.2 percent.
WUPN: It’s good to see good news for the people of Michigan. There is still a lot that has to be done. Oh, and by the way, isn’t a republican the governor of Michigan? Someone had to cleaqn up Michigan. What do you think?