Home // News // BLM 1Q 2013 Economic Forecast: Michigan will continue to grow faster than U.S. economy

BLM 1Q 2013 Economic Forecast: Michigan will continue to grow faster than U.S. economy

BLM 1Q 2013 Economic Forecast: Michigan will continue to grow faster than U.S. economy
Thursday, Apr 11, 2013
Download Press Release


Long-term outlook better than short-term; More hiring planned for 2013

DETROIT, Mich., April 11, 2013 – Business Leaders for Michigan (BLM), the state’s business roundtable, continues to forecast that Michigan’s economy will grow faster than the U.S. economy over the next six to eighteen months.  The forecast is reinforced by 43 percent of BLM members planning to increase hiring in Michigan in just the next six months. “Michigan’s business leaders continue to be more bullish towards the state’s economic outlook than the nation’s again this quarter,” said Doug Rothwell, President & CEO. “While Michigan’s business climate continues to improve, no significant federal policy reforms have been adopted amidst the slowdown in global growth.  The net result is that business leaders are more optimistic about Michigan’s economy short- and long-term and are backing that optimism up with continued hiring.” Highlights of the survey of Business Leaders for Michigan include:

  • Almost identical to last quarter’s survey, business leaders (55%) believe Michigan’s economy will grow over the next six months and none believe it will get worse.  Yet 62% of business leaders forecast the American economy will be about same over the next six months.  Only about a 1/3 believe the American economy will grow over the next six months.        

1  

  • More Michigan business leaders (76%) believe the state’s economy will grow over the next 18 months.  Yet only 52% of business leaders forecast the American economy will grow in the next 18 months.

2

  • Forty three percent of business leaders project that their companies will add jobs in the next six months in Michigan and about 1/3 believe they will make capital investments in Michigan.

The results reflect a survey of Business Leaders for Michigan’s 80 members, the chairpersons, chief executive officers, or most senior executives of Michigan’s largest companies and universities, who represent nearly one-quarter of the state’s economy. Quarterly Economic Outlook Reports are available at businessleadersformichigan.com/research-and-reports.

###

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

Launch Michigan releases Phase I recommendations

Dec 22, 2019

Launch Michigan is a diverse alliance of education, labor, business and philanthropic organizations, and parents and civic leaders committed to establishing a shared agenda to ensure all Michigan stud...

Read More
What We're Reading

Is Michigan ready for the next recession? Not even close

Nov 19, 2019

From Crain’s Detroit – In the last couple of years, many economists have suggested that the U.S. economy could enter a recession in 2020 or 2021. Trade wars, ballooning corporate and perso...

Read More
News

What actions can we take to keep accelerating Michigan’s growth?

Nov 19, 2019

That’s a wrap for another fantastic CEO Summit. Our event on Nov. 5 was aimed at figuring out what’s headed our way next: a recession? Further economic growth with new hires and business expansion...

Read More