First Quarter 2026 GDP Growth to 1.6%-A Rise in Prices and Slowdown in Corporate Profits

 We can take a look at the first-quarter 2026 GDP report, which showed economic growth of 1.6%. That's a bit lower than many expected and may suggest that some consumers are beginning to tighten their budgets while investors adopt more of a wait-and-see approach.

About six months ago, there were a few indicators that hinted at the possibility of a slowdown, although the economy still appeared relatively strong at the time. This latest GDP figure is one sign of weakness, but no single data point tells the whole story. What matters most is whether a trend begins to develop over the coming quarters.

Inflation remains a concern as well. The Personal Consumption Expenditures (PCE) price index increased 4.5%, while the core PCE price index rose 4.4%. These figures suggest that goods and services are continuing to become more expensive, putting pressure on both businesses and households.

For consumers, this may be a good reminder to focus spending on items that provide real value and meaning. Avoid unnecessary purchases when possible, and consider investing surplus funds for long-term financial growth.

Corporate profit growth also slowed significantly during the quarter. Business investment remains relatively healthy, particularly in equipment, technology, and artificial intelligence-related sectors, but it would be useful to compare these trends with other countries to better understand how the United States is performing in the global economy. Looking at international comparisons can provide valuable context about competitiveness, productivity, and future economic prospects.

BEA Revises First-Quarter 2026 GDP Growth to 1.6%, Corporate Profit Growth Slows

• The U.S. Bureau of Economic Analysis (BEA) reported that real Gross Domestic Product (GDP) increased at an annual rate of 1.6% during the first quarter of 2026, down from the advance estimate of 2.0%.
• The downward revision primarily reflected weaker investment and consumer spending than previously estimated.
• Real GDP growth accelerated from the 0.5% annual rate recorded in the fourth quarter of 2025.
• Real Gross Domestic Income (GDI) increased 0.9% in the first quarter, compared with 1.6% growth in the previous quarter.
• The average of real GDP and real GDI, often used as a broader measure of economic activity, increased 1.3%, up from 1.1% in the fourth quarter of 2025.
• The gross domestic purchases price index rose 3.5% during the quarter.
• The Personal Consumption Expenditures (PCE) price index increased 4.5%, while the core PCE price index (excluding food and energy) increased 4.4%.
• Corporate profits from current production increased by $40.4 billion in the first quarter, a substantial slowdown from the $246.9 billion increase recorded in the fourth quarter of 2025.
• Business investment remained a bright spot, particularly spending on equipment associated with artificial intelligence technologies.

U.S. Bureau of Economic Analysis. (2026, May 28). GDP (second estimate) and corporate profits, 1st quarter 2026. U.S. Department of Commerce. https://www.bea.gov/news/2026/gdp-second-estimate-and-corporate-profits-1st-quarter-2026

Escanaba City Council Meeting: Budgets, Data Transit, Millage, Classica Cars

(Illustrative Only)

Not in the parade this year.

Keeping up with the local news and governance. It is important for businesses, leaders, stakeholders and investors to see the good things happening. 

Any corrections please send me a message to the right. Don't miss the events this weekend. Community Calendar. 

Meeting Openings & Agenda Adjustments

• Roll Call & Pledge: The meeting was called to order by Mayor Ammel. 

• Minutes Approved: The council approved the minutes from the regular meeting held on May 7, 2026.

• Agenda Updates: Item #13 (Chip Seal Street approval) was removed. Two new items were added: Item #16 (Classic Car and Bike Night road closure changes) and Item #17 (Discussion regarding alleys going to gravel and chip sealer).

Public Hearing: FY 2026-27 Operating Budget

• Budget & Millage Approval: Following four public hearings and three work sessions, the council officially adopted the FY 2026-27 operating budget, capital improvement plan, and master fee schedule.

• Millage Rate: The city millage rate was established and approved at 17.442 mills.

• No public comments were made during this hearing.

Presentation: Delta Area Transit Authority (DATA) Ballot Proposal

John Stapleton, Director of DATA, gave an informational presentation regarding an upcoming transit millage on the August 4th ballot.

Current Operations & Structure

• DATA currently employs about 29 people. Full-time drivers and mechanics operate under a Teamsters Union shop.

• It operates as a nonprofit and governmental authority, governed by a board with representatives from Gladstone, Delta County, and the township association.

• As a public transit authority, DATA is legally required to accept all riders without discrimination (unlike the private sector). Rides can be booked via phone call, smartphone app, or text message.

The August 4th Millage Proposal

• The Ask: DATA is proposing a 0.689 mill levy for an 8-year period. This would replace the current 0.6 mills restricted to Escanaba and Gladstone.

• Countywide Expansion: This proposal would expand demand-response transit services to all of Delta County, including seven unserved townships (such as Wells Township), bringing service to roughly 8,300 residents who currently lack it.

• Proposed Service Expansions: Based on community surveys, the millage would fund earlier weekday morning hours (for dialysis, work, and school commutes) and expanded weekend hours, including running until 2:00 AM on Friday and Saturday nights.

• Financial Impact: For a home valued at $200,000 (taxable value of $100,000), the estimated tax increase is roughly 86 cents per month. It is a single countywide millage, meaning there is no "double-dipping" for city residents.

Financial Justification & Council Q&A

• Local Match Requirement: State and federal transit funds require a 50% local match before they can be reimbursed. DATA is currently about $600,000 short of funding this specific expansion. Stapleton noted that transit funding has failed to keep pace with inflation since 1997.

• Competition with Private Business: In response to council questioning, Stapleton clarified that DATA is meant to complement private transport, not compete. Private options can cost families $40–$55 per ride for long distances and often lack necessary equipment for disabled passengers (wheelchairs, scooters, walkers).

• Ridership Demographics: While specific ratios were not on hand, Stapleton noted that the majority of trips are now provided for working-age adults, though the service remains highly essential for disabled and elderly residents who cannot drive.

New Business: Ordinance First Readings

• Ordinance No. 1320 (Appropriations Ordinance): The council approved the first reading of the appropriations ordinance to implement the approved budget and levy the 17.442 mills.

• Ordinance No. 1321 (Tax Levy Ordinance): The council approved the first reading of the tax levy ordinance required by the city charter.

• Special Meeting Scheduled: A special city council meeting was scheduled for Thursday, May 28, 2026, at 9:00 a.m. for the second reading, public comment, and final adoption of both ordinances.

Agenda May 21st 2026

May Business After Hours Delta County: Data Bus, Charity, Newspapers, Food and Business Community

(Illustrative Only)

This is where you 
pass out cards on 
your start-up
and future investment
in the area. 
Suits voluntary.

Delta County MI. has a great networking event called Business After Hours, hosted by the Delta County Chamber of Commerce. While I do not make it to every event, I am always pleasantly surprised by the venue, the welcoming atmosphere, and the strong sense of business camaraderie whenever I attend. In a room of 100 I probably know 30 of them. Working together to enhance each other leads to total gain.

One of the best parts of these gatherings is the opportunity to learn something new. At this event, conversations centered around the Delta Area Transit Authority (DATA) bus system and the benefits it provides to local residents. There was discussion about routes, mileage, and efforts to serve communities throughout the county. I've included a map below to help illustrate the service area. In addition to networking, the event also supported charitable causes and community initiatives.

For anyone interested in investing in Delta County, launching a startup, or growing an existing business, Business After Hours is the type of event you should consider attending. It offers a valuable opportunity to connect with local leaders, entrepreneurs, and community members. We discussed everything from media outlets, charity, new Veteran Service Officer, and more. A few people running for office showed up. 

Catered Food

Representatives from the Daily Press were also in attendance. The Daily Press is a top-notch local newspaper that has served the community for generations. The fact that it continues to thrive in today's digital media environment speaks volumes about the quality of its journalism and its connection to local readers (Eat your heart out NY Times!). For businesses looking to advertise or share their story, the Daily Press remains an excellent resource. Their commitment to local reporting helps ensure that community news is covered by people who understand the area and its residents. Local journalism is something worth supporting.

The event also featured raffles, a 50/50 drawing, and a variety of prizes, adding to the fun and excitement of the evening. The food was excellent as well. The catered snacks received high marks from our table, with the cheese curds and peanut butter cups emerging as the clear favorites. Both were absolutely delicious. I know the person who catered and always does top notch (Chicken grill event for the local classic car parade this Friday. Be there! Ludington Street Cruise. My car not yet ready for it.)

Data Bus Map

Overall, Business After Hours is a worthwhile event that brings together business professionals, community organizations, and residents in a positive and productive setting. If you have the opportunity to attend, I highly recommend it. And if you are interested in starting or expanding a business in the area, reaching out to the Chamber of Commerce is a great place to begin. You will be entering a community of like minded entrepreneurs.

Delta County Business Afterhours 

Delta Area Transit Authority-Data Bus

Escanaba Daily Press (Very long history and helps the community. Subscribe to online if you think of putting your business in this area.)

Rapid River Memorial Day Parade 2026

The Memorial Day parade in Rapid River is one of the largest in the Upper Peninsula and the surrounding area. People from many neighboring communities gather along the small main street of Rapid River, a village of roughly 500 residents, to enjoy the celebration.

Local businesses welcomed visitors throughout the day, while bands, music, fire trucks, and a variety of community attractions added to the festive atmosphere. There were also several individuals campaigning for political positions, including a few familiar faces from the region. Overall, it was a very enjoyable and successful event.

Down at the park, families could take part in children’s games and other activities, making it a great way to spend the holiday together. Events like this are part of what makes the Escanaba, Delta County, and Gladstone area such a wonderful place to live. The strong sense of community, local pride, and family-friendly atmosphere also make the region an excellent place to invest, grow, and develop.

Rapid River Memorial Day Parade

If your a veteran, or a family member of a veteran you can join Amvets Post #123

In the Game of Business and Life Grit Wins for Goal Achievement

Grit is the ability to keep going against the odds, even when times are difficult. It is the commitment to show up day in and day out, consistently working toward your goals until they are accomplished. You have to eat, breathe, and live those goals while still maintaining enough balance to take care of yourself along the way. 

There is an important balance to understand. You can work hard and put in long hours, but if you want to endure for the long term, you also need activities that help relieve stress and pressure. Sustained success requires both discipline and recovery. Ying and Yang.

Grit demands emotional stability, focus, and perseverance, especially when others have given up or failed. Whether you are pursuing a college degree, building a business, or striving toward personal goals, success often comes from doing the work repeatedly—learning, trying, failing, adjusting, and continuing forward. Eventually, persistence leads to growth because you begin to figure things out through experience.

The reality is that meaningful success can take years. Instant results are rare. What separates those who succeed from those who quit is often the willingness to stay committed through setbacks, uncertainty, and hard work. That principle applies not only to business, but also to academics and life itself. Its the journey.

Entrepreneurs Can Create a Better Tomorrow: The Relationship Between Entrepreneurial Grit, Nonfinancial Success, and Societal Impact

• The study examines how entrepreneurial grit influences nonfinancial success and societal impact.
• Entrepreneurial grit refers to persistence, passion, and long-term commitment in entrepreneurial activities.
• Researchers found that entrepreneurs with higher levels of grit are more likely to achieve meaningful nonfinancial outcomes.
• Nonfinancial success includes personal fulfillment, positive organizational culture, and contributions beyond profit generation.
• The article highlights that gritty entrepreneurs often create stronger societal impact through innovation, leadership, and community contribution.
• Findings suggest that perseverance and resilience are important characteristics for sustainable entrepreneurship.
• The research contributes to entrepreneurship literature by linking personal entrepreneurial traits with broader social outcomes.
• The study encourages entrepreneurs and educators to value long-term commitment and purpose-driven business practices.

Kaes, M., Kruse, S., Maus, C., Krieweth, C., & Brettel, M. (2025). Entrepreneurs can create a better tomorrow: The relationship between entrepreneurial grit, nonfinancial success, and societal impact. Journal of Small Business Management, 63(2), 653–685. https://doi.org/10.1080/00472778.2024.2342839

Delta County Board of Commissioners Meeting (5/19/2026)

 If you want to stay on top of the local governance news you can watch the most recent May 19th, 2026 meeting. Any corrections send me a message to the right. 

Delta County Board of Commissioners Meeting Summary

• Meeting Logistics: The meeting took place on Tuesday, May 19, 2026, at 5:15 p.m. in the Delta County Service Center boardroom, presided over by Delta County Clerk Nancy Przewozny.

• Agenda Modifications: Item #4 (request to fill the deputy traffic clerk position) and Item #10 (MDOT highway easement purchase at the fairgrounds) were both rescinded and removed from the agenda.

• Public Comment (Parks and Recreation): A resident addressed past negative comments regarding the Parks and Recreation Commission (PRC). While praising the current parks manager's hard work, he highlighted significant public confusion regarding operational boundaries and whether final authority lies with the County Board or the PRC.

• Building and Grounds (Dispatch Relocation): The committee is actively looking to relocate Michigan State University Extension (MSUE) to free up space to bring dispatch operations over to the service center, which is expected to save the county substantial rental costs. They also recommended funding repairs for both courthouse entrances if finance committee budgeting allows.

• Travel Expense Disputes: During the payment of bills ($72,851.37 total), a commissioner questioned travel expense vouchers from April 2026. The dispute centered on the exact hours charged for a conference versus the actual length of the sessions attended. The bills were ultimately approved via roll-call vote.

• UP State Fair Booth Subcommittee: The board approved securing a county booth for the upcoming UP State Fair to share departmental materials (such as airport, zoning, and drain information). To prevent the burden of scheduling and staffing from falling entirely on administration, the board formed a two-commissioner fair subcommittee to coordinate volunteer coverage.

• Personnel Requests: The board approved motions to fill the deputy probation clerk position and the probation supervisor position.

• Airport Upgrades & Grants:

  • Approved a rent-offset reimbursement for a tenant who financed capital structural/heating improvements to an airport hangar.

  • Approved an RFP to paint the airfield fuel tanks using AEG fuel grant funds before it becomes a compliance issue.

  • Approved the EGLE PAS grant agreement.

• Board Assignments: Commissioner Johnson officially took over the board's Solid Waste Management Authority (landfill) role.

• Brownfield Authority Recruitment: Due to difficulties filling vacancies on the Brownfield Authority, the board discussed publishing a specific, targeted notice in the local newspaper. They are looking to recruit four specialized members from fields like real estate, development, banking, or finance.

Wishing You a Reflective Memorial Day

Let us remember the sacrifices made over the generations. Thank you for your service.