Michigan economic recovery is 2nd fastest in the nation
Manufacturing driving states economic boost
Posted: 11/03/2011
(WXYZ) - Michigan's economy is recovering at the second fastest pace in the nation. That's according to a new economic index that ranks growth in the states.
The Bloomberg Economic Evaluation of States says that the growth in auto manufacturing is driving Michigan's recovery.
Governor Rick Snyder says that "the evaluation shows that Michigan's strategy for regaining its economic vigor is on track."
According to the index, Michigan is second only to North Dakota for its growth.
However, Michigan still has significant economic challenges. The state's unemployment rate is the third worst in the nation, lingering at 11.1 percent.
California, Massachusetts and Illinois round out the top five in the index. Wyoming is ranked as having the lowest growth.
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