Growth rate slows, but remains positive. That’s the latest word on the Greater Grand Rapids industrial economy, according to data collected in the last two weeks of May. New orders, our index of business improvement, moderated to +19, down from +29. In a similar move, the production index eased to +26 from +35. Activity in the purchasing offices eased considerably to +25 from +51. Fortunately, the employment index remained fairly strong at +43, down from +46. |