WATCH CBS NEWS VIDEO: DNC NEWS AND ANALYSIS LIVE COVERAGE

Michigan Economic Forecast Revised: Mostly Sunny

DETROIT (WWJ) – According to a respected University of Michigan economist, the worst may be over for the state’s economy.

WWJ Newsradio 950’s Paul Snider reports that U-M Economist George Fulton’s latest economic forecast paints a much rosier picture for the state hardest hit by the recession.

Fulton believes Michigan bottomed out in the summer of 2009 and has experienced sustained jobs growth since then, the first gains spanning a year’s time since 2000.

Fulton estimates that 2011 began with a robust annualized job growth rate of 3.8 percent, reflecting a revitalized manufacturing sector.

He’s predicting a more modest growth rate of eight-tenths of one percent in the second quarter, 1.1 percent by the end of this year and a healthy 1.9 percent in 2012.

Comments

More From CBS Detroit

Best 4th Of July Concerts In Metro DetroitStaying home this weekend? Celebrate the 4th of July by rocking out at one of these shows.
Hump Day Drinks: 8 Cheery Cocktail RecipesNow that you've made it through half the work week, it's time to celebrate!

Watch & Listen