Over this past summer the economy seemed to come to a halt as the U.S. economy staggered through a difficult set of circumstances; consumer and business confidence plunged amid concerns of a “double dip” recession resulting due to fears of the impending default of Greece’s sovereign debt along with the potential of Italy, Spain and Portugal of following suit and the debt ceiling debate in Washington and the resulting downgrading of the nation’s debt credit rating by Standard and Poor’s. These concerns coupled with week job growth have stifled what little economic growth we have seen and has unnerved investors and employers and the pulling back thus resulting in mass fluctuations in the stock market and lack of job growth. IT’S ALL A MATTER OF PERCEPTION!!!
We are inundated on a constant basis from the numerous media sources and avenues about the state of the economy, status of the S&P 500 and bi-partisan gamesmanship in Washington; all in real time! It’s hard for investors and consumers alike to perceive the economy in a positive light and have any semblance of confidence while consistently being barraged by these news sources.
What we are not hearing are some of the positive aspects of our local economy. Michigan is leading the nation in job growth as the automotive industry continues to recover. Other industries are starting to look seriously at our region due to our highly skilled work force, engineering brain trust and relatively low cost of living and operations compared to other regions across the country.
Many suppliers have job openings for engineers that they are having a hard time filling. General Motors is still planning on adding jobs and just announced the reopening of its former Saturn plan in Spring Hill, Tennessee; the Orion Twp. plant is in the running to add 500 jobs to build a new compact vehicle. Faurecia North America has just announced that it plans to hire 800 employees in engineering, human resources and purchasing in Michigan
On the housing front; sales volume of existing homes continues to modestly improve while new home starts have started in limited quantities and areas; all part of a positive message in the undercurrent of the negative national picture.
Unfortunately these positive aspects of our economy have to live in the shadow of the nation’s larger more problematic issues. Until the general consumer can start to have some confidence with the leadership in Washington and we start to make some headway on the larger more complex issues the economy will continue to flounder because IT’S ALL A MATTER OF PERCEPTION!!!
Regards
Matthew B. Fenster, CCIM, MCR
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n. a model or pattern of perfection or excellence 
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