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Madhu Anderson Joins Citizens Research Council

Michigan Business Network
May 17, 2024 5:00 PM

Livonia, MI – Madhu Anderson this week joins the Citizens Research Council of Michigan as the Senior Research Associate for Local Affairs.

Madhu is well known in public policy, state government and non-profit and conservancy circles, holding several leadership positions in state government and the non-profit sector prior to joining the Citizens Research Council.

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Treasury: Administration, Fiscal Agencies Reach Consensus on Revenue Estimates

Michigan Business Network
May 17, 2024 4:00 PM

Revenue Projections and Economy Strong and Stable

State Treasurer Rachael Eubanks, Senate Fiscal Agency Director Kathryn Summers and House Fiscal Agency Director Mary Ann Cleary today reached consensus on revised economic and revenue figures for the remainder of Fiscal Year (FY) 2024 and for the upcoming 2025 and 2026 fiscal years.

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PNC Chief Economist Gus Faucher: Industrial Production Flat in April,

Michigan Business Network
May 17, 2024 1:00 PM

With Soft Details

  • Industrial production was flat in April from March, with drops in manufacturing and mining output and an increase for utilities.
  • Industrial production has been flat over the past couple of years as high interest rates are weighing on the industrial sector.
  • The capacity utilization rate fell in April from March; the industrial sector is not contributing to U.S. inflation.
  • Industrial production should pick up in 2025 with lower interest rates.
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ICYMI: Michigan Business Beat | John J. Walsh, Michigan Manufacturers Association Spring 2024 Update.

Michigan Business Network
May 17, 2024 10:00 AM

Chris Holman welcomes back John J. Walsh, President & CEO, MMA, Michigan Manufacturers Association, Lansing, MI.

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ICYMI: Michigan Business Beat | John J. Walsh, Michigan Manufacturers Association Spring 2024 Update.

Michigan Business Network
May 16, 2024 2:00 PM

Chris Holman welcomes back John J. Walsh, President & CEO, MMA, Michigan Manufacturers Association, Lansing, MI.

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PNC Senior Economic Advisor Stuart Hoffman: Initial Jobless Claims Fell by 10K in the Week Ending May 11

Michigan Business Network
May 16, 2024 1:00 PM

Reversing About Half of the Previous Week's Rise

  • Initial claims for unemployment insurance fell by 10,000 to 222,000 in the week ending May 11, reversing about half of the previous week’s rise. The four-week moving rose by 3,000 to 218,000.
  • Continuing claims rose by 13,000 to 1.794 million in the week ending May 4 but the four-week moving average fell by 1,000 to 1.779 million.
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ICYMI: Michigan Business Beat | T. Rann Paynter, Alyssa Bouchard Michigan Bankers Association, with Awards!

Michigan Business Network
May 16, 2024 10:00 AM

MBA | The Michigan Bankers Association Announces 2024 Banker of the Year 

Kenneth Kelly, Chairman and CEO, First Independence Bank

Chris Holman welcomes back T. Rann Paynter, President & CEO Michigan Bankers Association (Driving and on phone only) along with Alyssa A. Bouchard, Vice President, Communications, Michigan Bankers Association,  Lansing, MI.

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ICYMI: Michigan Business Beat | T. Rann Paynter, Alyssa Bouchard Michigan Bankers Association, with Awards!

Michigan Business Network
May 15, 2024 3:00 PM

MBA | The Michigan Bankers Association Announces 2024 Banker of the Year 

Kenneth Kelly, Chairman and CEO, First Independence Bank

Chris Holman welcomes back T. Rann Paynter, President & CEO Michigan Bankers Association (Driving and on phone only) along with Alyssa A. Bouchard, Vice President, Communications, Michigan Bankers Association,  Lansing, MI.

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PNC Senior Economist Kurt Rankin: CPI Inflation Below PNC's Expectations

Michigan Business Network
May 15, 2024 1:00 PM

at 3.4% (Topline) and 3.6% (Core) for April 2024

  • Topline CPI grew at a 0.3% pace in April 2024 versus the month prior in seasonally-adjusted terms.
  • Core CPI, less Food & Energy, also posted a 0.3% monthly gain in April 2024.
  • Housing CPI finally relented in April 2024, gaining only 0.2% over the month prior.
  • Services less Rent of Shelter also came in well below its first-quarter pace at +0.2% for the month.
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PNC Chief Economist Gus Faucher: Retail Sales Flat in April

Michigan Business Network
May 15, 2024 12:00 PM

After Very Strong March

  • Retail sales were flat in April from March and were up 3.0% from a year earlier. Retail sales growth was strong in March.
  • Details were mixed.
  • Consumer fundamentals are generally positive, led by the very strong labor market.
  • Consumer spending growth will slow in 2024 but remain positive.
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