Economic Indicators

June’s New-Vehicle Sales Pace (SAAR) Reached Highest Point in 2026

Vehicle sales remained healthy in June, with the seasonally adjusted annual rate (SAAR) reaching 16.5 million—the highest level of 2026. Sales volume increased 2.8% from May, though June’s SAAR was still 2.7% below year-ago levels.

According to Moody’s Analytics, consumer demand has remained resilient despite elevated gasoline prices and a softer labor market. However, affordability challenges, high interest rates, and moderating wage growth continue to constrain growth. At the same time, strong equity markets are supporting household wealth and helping sustain new vehicle purchases.

Detroit Metro’s Unemployment Rates Increased in June 2026

The Detroit-Warren-Dearborn Metropolitan Statistical Area’s (MSA) seasonally adjusted unemployment rate rose by one-tenth of a percentage point to 5.4% during June. Employment increased by 4,000 over the month, while unemployment edged up by 1,000, resulting in a labor force gain of 5,000 in June. The Detroit MSA unemployment rate rose by six-tenths of a percentage point over the year. The Detroit region’s labor force increased by 35,000 since June 2025.

Employment Levels Down Year Over Year in May 2026

Nonfarm employment in the Detroit Region totaled 2,048,100 in May 2026, a 0.7% decline from the previous year.

Job Postings Down in June 2026

In June 2026, total job postings in the Region reached 106,903, a 3% decrease 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) increase at an annual rate of 2.1 percent in the first quarter of 2026 (January, February, and March), according to the third 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 increases in investment, exports, government spending, and consumer spending. Imports, which are a subtraction in the calculation of GDP, 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 Slowed to 3.5% in June 2026 as Gas Prices Fell by 10% 

The consumer price index increased 3.5% in the 12 months ending in June, down from the 4.2% in May, which marked the highest pace in three years. Inflation cooled in June mostly due to gasoline prices falling. Prices fell 0.4%, driven largely by a 10% drop in gasoline prices.  Read the full report.

Consumer Sentiment Up in June 2026

Consumer sentiment confirmed its early-month reading, rising about 10% above May as gas prices moderated. Increases were seen across income, wealth, and political affiliation. Expected business conditions over the next five years surged 16% as consumers’ worries over long-term consequences of the Iran conflict appear to be easing. Still, sentiment remains in unfavorable territory at 13% below the February 2026 reading prior to the start of the Iran conflict, and nearly 20% less than a year ago. The cost of living remains at the forefront of consumers’ minds; for the third straight month, over half of consumers spontaneously mentioned that high prices are weighing down their personal finances. 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 Sixth Straight Month  

The U.S. manufacturing sector expanded in June for the sixth straight month following a 10-month period of contraction, registering 53.3%, a decrease of 0.7 percentage point compared to May. Five of the six largest manufacturing industries expanded in June, with Petroleum & Coal Products the exception.

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.