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BLM 1Q 2012 Economic Forecast: More Optimistic about Outlook for Michigan than U.S.

BLM 1Q 2012 Economic Forecast: More Optimistic about Outlook for Michigan than U.S.
Thursday, May 10, 2012
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More optimistic about outlook for Michigan than U.S.

DETROIT, Mich., May 10, 2012 – A survey of Business Leaders for Michigan (BLM), the state’s business roundtable, shows that the state’s largest employers are more optimistic about Michigan’s short and long-term economic outlook than for the nation.

“Michigan’s largest job providers are bullish on the state’s economic prospects and backing it up with increased hiring and investment,” said Doug Rothwell, President & CEO.  “Business leader optimism about the state’s long-term economy 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.”

Highlights of the survey of Business Leaders for Michigan include:

  • Business leaders continue to feel positive about the U.S. and Michigan economy in a nearterm outlook, reversing a trend of increasing pessimism that began at the start of last year. However, Michigan business leaders are nearly twice as optimistic about Michigan’s economy over the next 6 months.
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  • Business leaders are optimistic about the long-term economy for the U.S. (74%), yet more continue to forecast a bright outlook for Michigan (83%).
    Image 2 12

Additionally, 72% of BLM members expect their sales to increase over the next 6 months and 98% 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 for Michigan’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/researchand-reports.

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