My Town: What 2015 will hold for West Michigan's economy | Arts & Culture
GRAND RAPIDS, Mich.--- Consumers in West Michigan are more optimistic about what 2015 will bring.
In fact, consumers in this market are the most optimistic in the region, according to a new study released by Huntington Bank. The financial firm found local residents say they are much more likely to buy a new vehicle this year; 17 percent said they plan to purchase a new car, compared to just four percent in 2014.
Home improvement stores may also be busy; 47-percent of West Michiganders surveyed for the Huntington Bank Midwest Economic Index said they were planning some home renovations for 2015, compared to 32 percent in 2014.
Despite the optimism, local consumers continue to be wary of the real estate market. Eight percent said they plan to sell their home this year, up slightly from six percent last year.
Huntington Bank’s director of economics says the survey confirms a recovery is going on in local markets, as unemployment rates and gas prices drop.