Michigan economic recovery may not be quick
A longtime leader in Michigan’s business community is predicting it'll take a while for Michigan’s economy to recover from the COVID-19 pandemic.
Doug Rothwell is the president of Business Leaders for Michigan and a former head of the Michigan Economic Development Corporation.
On a webinar produced by the Detroit Regional Chamber.Rothwell predicted Michigan’s economy will not have a quick ’v-shaped’ recovery.
“At best it’s going to be either a ‘u’ or even a ‘w’ shaped recovery where there may be some initial boost that we get when the gates are opened up here a little bit....but then if there’s a second surge of the virus we may have to pull back.”
Rothwell expects it may take a couple years for Michigan’s economy to get back to “normal”.