Inflation is continuing to cool, but at 6% is still well above the fed’s target of 2%. That’s according to the latest numbers from the Consumer Price Index. But how is the economy behaving locally?
Forecasting the economy is no easy task these days. Many economists believe the country is headed toward a recession. How much of a recession is an open debate.
Speaking at the Washtenaw Economic Club was Gabriel Ehrlich. He is an economic forecaster at the University of Michigan. He says Washtenaw County hasn’t fully recovered from the COVID-19 pandemic but still expects growth to be pretty solid over the next few years.
“The bad news, if you want to look at it that way, is we do expect the national economy to slow down. And, obviously, that’s not what we’d like to see, but the good news is that we expect the local economy to keep plowing ahead and moving forward.”
Ehrlich says he expects the economy in Washtenaw County to fully recover in terms of employment by the middle of next year.
RESOURCES:
Washtenaw Economic Club's 2022 Washtenaw County Economic Outlook
Washtenaw County Economic Outlook presentation
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