CORNA, Mich. (WJRT) – More than half of Michigan retailers report a decline in sales in February, the highest number in the past four months, according to the Michigan Retailers Association.
“There’s certainly a lot of uncertainty. It’s a tariff, inflation and interest rates, a tough labor market, and some people and businesses are really contributing to keep their money down,” Justin Horvas said in Siawassy’s Economic Development Partnership.
Recent measures of MRA’s retail index appeared to have improved over the past few months. However, in February it dropped its 20 points to 41.5.
The 50 scale is considered a positive indication for the industry.
Not only retailers on the other side of the register, but consumers are also feeling the impact of the rapidly changing economy. A study from the University of Michigan predicts that consumer sentiment has slipped 22% since December.
“I think the long-term perspective from businesses in Sheawassy County is still optimistic,” Horvath said. “We have overcome many difficult storms over the years, and those who have gone through it have a lot of strength and courage.”
Despite these numbers, Shiawassee Economic Development Partnership’s Horvath says there is still optimism that things will level out in the mid-Michigan period.
“Despite some challenges, there is still a lot of economic activity,” he explained. “There are a lot of companies here looking to expand here that want to start a business here, so we continue to have a very strong pipeline of opportunity.”
Optimism is not limited to Sheawassy County. The same Michigan Retailers Association survey found that 75% of businesses expect sales to increase over the next three months.
