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Detroit Regional Chamber > Polls & Surveys > 87% of Michigan’s Economy is Back According to New Report

87% of Michigan’s Economy is Back According to New Report

August 25, 2020
Moody’s Analytics and CNN compiled a study tracking America’s recovery. The study shows that Michigan’s economy, ahead of many of our peer states, is operating at 87% of where it was in early March. This outpaces the nation, which is operating at 78% of where it was in early March.

On WDIV Local 4 News, Chamber President and CEO Sandy K. Baruah reacted to the data in an interview with Rod Meloni.

“The federal infusion of unemployment assistance probably benefited Michigan, perhaps more than other states. And secondly, our strong manufacturing base is still strong, especially when you look at the automotive industry. Their basically back almost full gun,” said Baruah.

The Back-to-Normal Index

The pandemic economy is far from normal. So Moody’s Analytics and CNN Business have partnered to create a proprietary Back-to-Normal Index, comprised of 37 national and seven state-level indicators. The index ranges from zero, representing no economic activity, to 100%, representing the economy returning to its pre-pandemic level in March.

 

View a full summary and an in-depth breakdown on CNN.