Crain’s Detroit Business
Jan. 2, 2024
Mark Sanchez
U.S. economic growth that steadily slowed throughout 2023 because of rising interest rates to tame high inflation may ease further next year, although a recession that’s been feared for several months may instead become a “soft landing.”
While some economic forecasts project a mild recession next year, others such as the University of Michigan see the U.S. economy creeping along with slow growth but no outright downturn.
“We expect the U.S. economy to avoid a recession over the next two years,” economists wrote in an annual outlook that the University of Michigan’s Research Seminar in Quantitative Economics issued in November.
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“Grand Rapids and the region’s doing much better than Michigan as a state and the whole state economy,” Iryna Lendel, senior director of regional economic and community development at the Upjohn Institute, said during an annual outlook hosted last month by The Right Place Inc.
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