Michigan and Metro Detroit have outpaced the nation's economic recovery in the wake of COVID-19, according to the Detroit Regional Chamber's State of the Region report released Wednesday.
"Starting in the summer of 2020, the Detroit region and Michigan as a whole really outperformed certainly expectations and in many cases outperformed the United States as a whole," said Sandy Baruah, president and chief executive officer of the Detroit Regional Chamber. "So a very different dynamic during the pandemic for Michigan's economic performance compared to prior economic downturns."
In 2021, the latest year for which the chamber has full-year verified data, both the Detroit region and Michigan outpaced the U.S. in gross domestic product growth, according the report. Michigan's GDP totaled $481.7 billion in 2021, increasing 7.4% annually. The largest contributors were manufacturing, finance and real estate.
