Business Leaders for Michigan’s quarterly economic outlook survey indicates that Michigan will continue to lag the nation’s economic performance over the next eighteen months, but there is less pessimism than in the 2nd quarter survey. The survey will be released to the media next week. The press release & results are attached. Highlights of the survey include:
- Most Michigan companies expect to perform better than their sector competitors.
- Approximately 90% forecast flat or lower employment and capital investment in Michigan in the next 6 months.
- 100% believe Michigan’s economy will be the same or deteriorate over the next 6 months, but less severely than in the 2nd quarter survey. 95% think the US economy will be the same or get better.
- 66% think Michigan’s economy will be the same or continue to get worse 18 months from now, while 98% think the US economy will be the same or better. The Michigan outlook is 21% better than the 2nd quarter survey.