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ECONOMIC CLUB

Stable Growth Forecast for 2020 Economy

PNC ECONOMIST TELLS LANSING ECONOMIC CLUB THAT MICHIGAN AND U.S. ECONOMY ON

SOLID FOOTING FOR THE NEXT 12 MONTHS

THE LONGEST ECONOMIC EXPANSION IN HISTORY “We are back to where we were at the beginning
will continue in 2020 and Michigan will continue of the last recession on prices,” said Adams. “That
to ride the wave despite an anticipated slowdown means more real estate equity, which contributes
in manufacturing. That was the message from to high household income.”
William (Bill) Adams, senior economist and vice
president, PNC Financial Services Group, in an Filling the talent pipeline will continue to be
appearance before the Lansing Economic Club a big challenge for business in the next few
on Dec. 10. years. Adams noted as recently as 2012-2013,
companies could hire whomever they wanted.
“Economic growth will slow a bit in the first half Today, business owners are forced to be more
of the year, but pick-up again in the second half,” creative in their hiring approach.
said Adams. “We forecast GDP growth at 1.5%
for 2020.” “It will continue to be a job-seekers market,” said
Adams. “A differentiator for business will be
Adams said the combination of continued low- how well you can train people and get them up
interest rates, low unemployment, increasing to speed.”
wage growth, high consumer confidence and robust household spending bode well
for economic growth in the next year. He expects a modest slowdown in auto sales, Adams says that PNC’s small business survey shows a great deal of optimism
but still forecasts volume even with this year at about 16.3 million vehicle sales. He among small business owners for the next year. Approval of the USMCA (NAFTA
says recovering housing prices are good news for Michigan. replacement) trade deal will also be a strong positive in 2020. n

170,380 SF High-Bay Warehouse

For Lease / 1875 Holloway Drive, Holt

Martin is pleased to offer this unique Class A, cross dock site
located in Holt near US-127. The former light manufacturing
facility is unique with over 16,000 SF of corporate headquarters
grade office space. The space has been well maintained and is
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Features

• 170, 380 SF total,154,000 SF steel and block warehouse,
16,380 SF office on a 11.6 acre site
• 17 loading docks with automatic levelers, 40’ x 50’ column
spacing and 28.5’ clear ceilings
• Heavy power and wet sprinkled

Contact Us
517 351-2200

martincommercial.com

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