Business Leaders Optimism Toward Michigan Economy Grows


Published:

DETROIT — A survey of Business Leaders for Michigan (BLM), the state’s business roundtable, shows that the state’s largest employers are more optimistic about the economy in Michigan vs. the nation over the next year and a half.  But the economic outlook for both Michigan and the nation are declining significantly due to fears about Europe’s fiscal crisis, slowing global growth and the lack of clarity to future American tax and spending policies.      

“Michigan’s largest job providers continue to be bullish on the state’s economic prospects and are backing it up with increased hiring and investment,” said Doug Rothwell, President & CEO.  “Business leaders relative optimism about Michigan’s economic outlook versus the nation’s is at a three year high and nearly a third of the largest job providers are planning increased hiring and investment in the next six months.  But Michigan is not an island, and global and national economic issues are clearly dampening the rate of growth these business leaders expect to achieve.”

Highlights of the survey of Business Leaders for Michigan include:

• The short-term economic outlook for the U.S. is the lowest in three years, but confidence in the future economy of Michigan v. the U.S.has reached a three-year high. 

• Long-term optimism is declining, but remains strong for the Michigan economy.

•  Nearly-two thirds of BLM members expect their sales to increase over the next 6 months and 95% expect their sector of the economy to do the same or better over the next 6 months.

The results reflect a survey of Business Leaders forMichigan’s 80 executives, the state’s largest private sector job providers that represent nearly one-quarter of the state’s economy. 

Quarterly Economic Outlook Reports are available at businessleadersformichigan.com/research-and-reports.

Edit Module
Edit Module Edit Module
Edit ModuleShow Tags Edit ModuleShow Tags

Most Popular

  1. 2 New Restaurants Planned for Birmingham’s Palladium 12
    Peas & Carrots Hospitality will open two new restaurants this summer in Palladium 12, a movie and...
  2. Guest Blog: Grooming Michigan’s Next Generation of Female Board Directors
    As a result of increased dialogue and media attention, board diversity is top of mind more now...
  3. Bedrock, Curis Enterprises Buy L.B. King Building in Downtown Detroit
    Curis Enterprises, a Detroit-based real estate development and management firm, has teamed up...
  4. Michigan’s Thumbs Up Wine Trail Formally Launches in May
    There are more than 100 wineries in Michigan, but enthusiasts in the southeastern region don't...
  5. Roxbury Group Plans $20M Residential Redevelopment of Midtown's Professional Plaza
    The Roxbury Group today announced it will invest $20 million in the redevelopment of the former...
  6. Local Detroit Startups Compete for Chance to Pitch at Google HQ
    Eleven metro Detroit-based startups on Thursday will compete for the ultimate startup...