Michigan fell just behind North Dakota in Bloomberg's first-ever
Economic Evaluation of States. While the Mitten has certainly seen its shares of economic woes, the study heralded positive trends in an analysis that evaluated job creation, personal income, tax revenue, housing prices, mortgage delinquencies and the stock performance of locally based companies (the car industry hepled there).
North Dakota was the only state to register economic growth -- mostly due to an oil boom. The other states in the top five included: California, Massachusetts and Illinois.
Excerpt:
"“Michigan is emerging from, basically, a lost decade,” said Patrick Anderson, chief executive officer of Anderson Economic Group LLC, an East Lansing, Michigan-based consulting firm. “I sense a very cautious optimism in my home state.”
Seventy percent of Michigan employers said they expected the state’s economic outlook to improve over the next 18 months, while only 46 percent expected such gains for the national economy, according to a survey released last month by Business Leaders for Michigan. Mortgage delinquencies dropped at the fourth-fastest pace in the U.S., and personal income and employment growth ranked in the top third, according to data compiled by Bloomberg."
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