Home // Data // BLM 3Q 2015 Economic Forecast: Short-term growth slightly positive, long-term growth flat

BLM 3Q 2015 Economic Forecast: Short-term growth slightly positive, long-term growth flat

BLM 3Q 2015 Economic Forecast: Short-term growth slightly positive, long-term growth flat
Thursday, Oct 29, 2015
Download Press Release


DETROIT, Mich., Oct 29, 2015 – According to a survey conducted by Business Leaders for Michigan (BLM), the state’s business roundtable, most business leaders forecast the Michigan and U.S. economies will grow modestly over the next six months, followed by flat growth over the next 18 months. “The majority of Michigan’s largest job providers believe that the state’s economy will remain stronger than the nation’s over the next eighteen months, but growth will slow in both markets,” said Doug Rothwell, BLM President & CEO. “The economic recovery is entering its seventh year – historically a long time for expansions. Growth is slowing, but America remains a bright spot in the world economy and Michigan will likely out-perform the nation over the next eighteen months.” Highlights of the survey of Business Leaders for Michigan include:

  • Next six months: Most business leaders believe the Michigan and U.S. economies will remain the same over the next six months (67% and 74%, respectively) with some believing there will be modest growth (26% and 15%, respectively). This is slightly more pessimistic than the July 2015 survey. Qtr+Survey+Image+1
  • Next eighteen months: Business leaders were evenly divided at 26% each over whether the American economy would get better or decline over the next eighteen months with 48% predicting a flat economy. The ooutlook for Michigan was slightly more positive with 30% believing the state economy would improve, 20% forecasting a decline and 50% predicting it would remain flat. Qtr+Survey+Image+2

The survey also found 41% business leaders project their companies will add jobs and make capital investments in Michigan over the next six months. The results reflect a survey of Business Leaders for Michigan’s 80 members, the state’s largest private sector job providers that represent nearly one-third of the state’s economy.

###

Recent News

News

One More Item On Our 2018 To-Do List

Dec 12, 2018

Leading What’s Next… As we come to the end of another calendar year, it’s great to reflect on all that has been accomplished. We’ve made new strides in connecting business with...

Read More
Data

BLM releases 2018 statewide economic benchmarking data

Nov 12, 2018

DETROIT, Mich.—Business Leaders for Michigan (BLM), the state’s business roundtable, released a major report on the state’s economic performance Monday, highlighting the impact of key policy and...

Read More
What We're Reading

The real State of the State: Amid boom times, potholes line Michigan’s economic path

Feb 11, 2019

CHAD LIVENGOOD   February 10, 2019  There are potholes in Michigan — and not just in the roads. Potholes in household income. Potholes in the percentage of working adults. Potholes in student ach...

Read More
What We're Reading

Bridge Magazine: With flat budget, Gov. Whitmer’s search for Michigan road money gets harder

Jan 15, 2019

Gov. Gretchen Whitmer is expected to outline her policy vision for roads in her inaugural State of the State address in February, while her first budget proposal is anticipated to roll out in March. G...

Read More
News

2019 Goal: Finding Common Ground

Jan 15, 2019

2018 was a great year for Michigan, as we hit record lows in our unemployment rate, our population ticked up slightly and construction began on the Gordie Howe International Bridge Project. With a new...

Read More