Despite the ever-advancing gloom around the states manufacturing sector, there are some signs of growth and diversification in Michigan’s economy, according to “Out of the RenCen shadow”, an analysis posted on the web site of The Center for Michigan.
John Bebow reports that while the latest U.S. Bureau of Economic Analysis data does show that Michigan’s economy declined faster than any other in the last year, overall, the inflation-adjusted state gross product is only down 4 percent since 2003. Though construction is down by 40 percent, other sectors are expanding. Over the last five years the agricultural sector has grown by 34 percent, the state’s “Information” sector (largely software and data processing) grew by 24 percent, health care and related fields grew by 13 percent.