Home // Data // BLM 3Q 2017 Economic Forecast: MI’s Top Business Leaders Continue to Anticipate Investment, Jobs During Next Six Months

BLM 3Q 2017 Economic Forecast: MI’s Top Business Leaders Continue to Anticipate Investment, Jobs During Next Six Months

BLM 3Q 2017 Economic Forecast: MI’s Top Business Leaders Continue to Anticipate Investment, Jobs During Next Six Months
Tuesday, Sep 26, 2017
Download Press Release


DETROIT, Sep 26, 2017– The state’s largest businesses forecast stable to increasing economic activity for both Michigan and the U.S.  according to the latest quarterly survey of Business Leaders for Michigan (BLM) members.

“A majority of our members surveyed predict their companies will maintain or increase capital investment and employment in Michigan into the new year,” said Doug Rothwell, BLM president & CEO. “In fact, 63 percent of members say their companies are likely to increase employment.”

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.

Quarterly Economic Outlook Reports are available at: https://businessleadersformichigan.com/category/data/surveys/.

Recent News

News

Joint Letter to Gov. Snyder on Maintaining K-12 Standards & Assessments

Dec 6, 2017

View a copy of a December 5, 2017  letter sent to Governor Rick Snyder from Business Leaders for Michigan, Detroit Regional Chamber and the Grand Rapids Area Chamber of Commerce expressing strong opp...

Read More
News

Acting Decisively. Investing Strategically.

Nov 9, 2017

Nearly 500 business executives, nonprofit and community leaders, and policymakers met at the sixth annual Michigan CEO Summit to discuss what it takes to succeed and prosper today, both as individual ...

Read More
Data

2017 Economic Competitiveness Benchmarking Report

Nov 8, 2017

BLM’s 2017 Economic Competitiveness Benchmarking Report tells the story of a state that is recovering faster than most other states, but has more ground to make up. ...

Read More