GVSU's monthly survey shows local industrial economy remains strong but moderating

GVNOW reports that Grand Valley State University's monthly survey shows the greater Grand Rapids industrial economy remains strong, but growth has slowed based on data collected in the last two weeks of July.

Brian G. Long, GVSU's director of Supply Management Research in the Seidman College of Business, reports that new orders remained almost the same while production and purchases eased up. Hiring moderated slightly after setting a six-year record.

According to excerpts from the story:

Long said with 43 percent of firms reporting adding staff, the employment rate in the greater Grand Rapids area remains high. "Many firms are hiring, but some of them are being very quiet about it to avoid a long line at the door," said Long. "The catch is that almost all of the new hires require some kind of skill, such as computer analysis, CNC operation, electronics repair, or medical skills.