Recession 2025 2026 Lansing. Michigan's household, main street, and industrial economy, affected by inflation and unemployment, will lag for the rest of the year, but is expected to pick up in 2025 and '26. The michigan outlook points to stronger personal income growth, with per capita income increasing to $64,000 in 2024 and reaching around $68,500 by 2026, up 41% from 2019.

High prices for land and high interest rates choke the expansion. The tax cuts and deregulation scenario (30%) predicts stronger growth, with gdp rising.