Economic Indicators

Consumer Sentiment Hits Lowest Level on Record

Consumer sentiment ticked down 3.5 index points this month, now comparable to the trough seen in June 2022. Decreases in sentiment were seen across political party, income, age, and education. Expected business conditions declined for both short and long time horizons, nearly matching year-ago readings when the reciprocal tariff regime was implemented. After the two-week cease-fire was announced and gas prices softened a touch, sentiment recovered a modest portion of its early-month losses. The Iran conflict appears to influence consumer views primarily through shocks to gasoline and potentially other prices. In contrast, military and diplomatic developments that do not lift supply constraints or lower energy prices are unlikely to buoy consumers. Read the full report. 

Detroit Region’s Unemployment Increases in March 2026

Detroit MSA’s seasonally adjusted unemployment rate reached 5.2% in March 2026 and remained 0.9 percentage points above the national rate.

Employment Levels in February Decline Compared With the Previous Year

Nonfarm employment in the Detroit Region reached 2,002,700 in February 2026, while overall employment declined 0.8% compared with the previous year.

Job Postings Deceased in April 2026

In April 2026, total job postings in the Region reached 109,172, a 5% decline from the previous month. Registered nurses remained the most in-demand occupation in the Detroit Region.

U.S. Economy Grows in Q1 2026

Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the first quarter of 2026 (January, February, and March), according to the advance estimate released today by the U.S. Bureau of Economic Analysis. In the fourth quarter of 2025, real GDP increased 0.5 percent. The contributors to the increase in real GDP in the first quarter were investment, exports, consumer spending, and government spending. Imports, which are a subtraction in the calculation of GDP, also increased. Read the full BEA report.

The GDP is measured as the total market value of the goods and services produced within a specific geography during a given time period. Gross domestic product is a key indicator of the general health of the economy and its performance, with increases indicative of economic growth.

Inflation Increased to 3.3%, Highest Rate Since 2024

In March, the Consumer Price Index for All Urban Consumers rose 0.9 percent, seasonally adjusted, and rose 3.3 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.2 percent in March (SA); up 2.6 percent over the year (NSA). Read the full report. 

Consumer Sentiment Hits Lowest Level on Record

Consumer sentiment ticked down 3.5 index points this month, now comparable to the trough seen in June 2022. Decreases in sentiment were seen across political party, income, age, and education. Expected business conditions declined for both short and long time horizons, nearly matching year-ago readings when the reciprocal tariff regime was implemented. After the two-week cease-fire was announced and gas prices softened a touch, sentiment recovered a modest portion of its early-month losses. The Iran conflict appears to influence consumer views primarily through shocks to gasoline and potentially other prices. In contrast, military and diplomatic developments that do not lift supply constraints or lower energy prices are unlikely to buoy consumers. Read the full report. 

Michigan’s New Business Applications Remained Strong in Q1 2026

New business applications in Q1 2026 rose 25% compared with the same quarter in 2025, totaling 40,542 and indicating continued strong entrepreneurial activity.

Economic Activity in the Manufacturing Sector Expands for the Fourth Straight Month  

The U.S. manufacturing sector expanded in April for the fourth straight month following a 10-month period of contraction, registering 52.7 percent, the same reading as March. Responded noted that geopolitical uncertainty and rising oil prices continue to weigh on demand.

ISM® states a reading above 50% shows that the manufacturing economy is generally expanding; below 50% indicates that it is generally contracting. The index is based on a monthly survey of supply chain managers and measures general direction of economic trends in manufacturing and other sectors.