Currently, the two most often talked about demographic groups in the U.S. are baby boomers, those born from 1948 to 1964, and millennials, those born from 1981 to 1999. Even though they're separated by Generation X, baby boomers and millennials have at least one thing in common: their increasing desire to live in cities. Some baby boomers who are also empty nesters feel the best way to stay a... Read More
On Thursday, May 12, 2016, members of the Detroit Association for Business Economics (DABE) attended a presentation entitled “Agriculture and the Economy: A View from the Chicago Fed” by David Oppedahl, senior business economist, Federal Reserve Bank of Chicago. Oppedahl highlighted key trends in agriculture and their relationship to the broader economy. Farming and manufacturing of food ... Read More
Introduction In partnership with, the W.E. Upjohn Institute for Employment Research, Economic Development Quarterly, SAGE Publications and the Initiative for a Competitive Inner City (ICIC), the Detroit Branch of the Federal Reserve Bank of Chicago hosted a two-day summit on September 15–16, 2015, that studied ongoing economic development efforts within inner city neighborhoods. Experts fr... Read More
On Thursday, April 21, 2016, the members of the Detroit Association of Business Economists (DABE) were presented with an excellent overview of the current financial state of the Detroit Public School (DPS) system. The presentation entitled “Detroit Public Schools—Financial Crisis” by Craig Thiel provided an in-depth analysis of how DPS arrived at its current situation, with operating liab... Read More
On Thursday, March 17, 2016, members of the Detroit Association for Business Economics (DABE) were presented with an extremely in-depth presentation entitled “State of the global economy: Recovery, flat, or decline?” by Dr. David Teolis, senior manager, economic and industry forecasting—international, General Motors (GM). Teolis is a veteran economic analyst, with numerous years of experi... Read More
Introduction Detroit’s population fell by almost 50% from its peak of 1.85 million in 19501 to around 950,000 in 2000. Since 20002, Detroit’s population has declined at a faster rate. The U.S. Census Bureau reports that Detroit’s population stood at 680,250 as of 20143. As Detroit’s population migrated elsewhere, so did many of its businesses. How many businesses have left the Motor City ... Read More
The U.S. auto industry has just completed its best sales year ever, reaching 17.837 million in total vehicle sales in 2015. Falling gasoline prices together with affordable finance rates helped the Detroit Three (D3) manufacturers (Fiat Chrysler, Ford, and General Motors) by making crossover vehicles, SUVs, and pickup trucks more affordable to own and operate. Chart 1 below shows how the demand f... Read More
On December 4, 2015, the Federal Reserve Bank of Chicago hosted its 29th annual Economic Outlook Symposium (EOS). The EOS allows economists, business leaders, financial analysts, and other experts to gather and share their respective views on the U.S. economy and individual sectors especially important to the Midwest economy. Also, EOS participants are given the chance to submit their respective ... Read More
According to the September Midwest Economy Index (MEI), the pace of economic growth in the five Seventh District states (Illinois, Indiana, Iowa, Michigan, and Wisconsin) as a whole remained below its long-run average. The MEI remained unchanged in September at -0.15, after declining the previous eight months. In addition, at +0.04, Michigan’s contribution to the MEI in September fell to its ... Read More
On Thursday, October 15, 2015, the Detroit Association of Business Economists met at the Detroit Branch of the Federal Reserve Bank of Chicago and heard an in-depth presentation on the U.S. economy from Chris Varvares, Senior Managing Director and Co-Founder of Macroeconomic Advisors (MA). Varvares is an accomplished macroeconomic forecaster with over 30 years of experience and service as an econ... Read More
