If aptitude can equal attitude over the next couple of years, Michigan’s comeback should continue to maintain some strength according to the latest quarterly survey of members of the top flight Business Leaders for Michigan organization. That’s pretty good company to be in, too, because the organization is comprised of the Chief Executive Officers of most of the largest corporations in the entire state of Michigan.
Doug Rothwell is President & CEO of the Business Leaders for Michigan team, and he says that the state’s largest businesses are forecasting “stable to increasing economic activity” for both Michigan and the nation. The data comes as part of the latest quarterly survey conducted among the members of the organization.
Rothwell says, “A majority of our members surveyed predict their companies will maintain or increase capital investment and employment in Michigan into the new year.” Rothwell adds, “In fact, 63-percent of members say their companies are likely to increase employment.” That’s solid news for the organization which is targeted at getting Michigan back among the Top 10 states in the nation for economic vitality.
Highlights of the survey of Business Leaders for Michigan include:
- Next six months: Most business leaders are still optimistic about the growth of the Michigan economy over the next six months (58-percent) and are generally more optimistic about the growth of the U.S. economy (44-percent). The U.S. economic outlook improved over last quarter.
- Next 18 months: While down from last quarter, optimism about the Michigan economy over the long term continues to exceed expectations for the U.S., but margins are tightening. According to 45-percent of business leaders, Michigan’s economy will improve over the next 18 months, compared to 39-percent of business leaders who believe the U.S. economy will grow over the same time period.
BLM members expect—by a margin of 50-percent—to increase capital investment in Michigan during the next six months, with the remaining 50-percent anticipating no change. Sixty-three percent say they anticipate increased employment while 28-percent say they see no changes on the horizon. Nine percent of employers forecast staffing reductions.
All available Quarterly Economic Outlook Reports from the Business Leaders for Michigan are available at the link below:
https://businessleadersformichigan.com/category/data/surveys/
Business Leaders for Michigan, the state’s business roundtable, is dedicated to making Michigan a “Top Ten” state for jobs, personal income and a healthy economy. The organization is composed exclusively of the chairpersons, chief executive officers, or most senior executives of Michigan’s largest companies and universities. The organization’s members drive nearly one-third of the state’s economy, provide 390,000 direct jobs in Michigan, generate over $1 Trillion in annual revenue and serve nearly half of all Michigan public university students.
Find out more at: www.businessleadersformichigan.com.
