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BLM 2Q 2011 Economic Forecast: CEOs More Optimistic about Michigan vs. U.S. Economy

BLM 2Q 2011 Economic Forecast: CEOs More Optimistic about Michigan vs. U.S. Economy
Monday, Aug 1, 2011
By blmdev
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DETROIT, Mich., August 1, 2011 – A survey of Business Leaders for Michigan, the state’s business roundtable, reveals for the first time since the survey began two years ago more optimism about the Michigan economy than the national economy.

Specifically, the second quarter 2011 survey forecasts:

  • Continued economic improvement for both the U.S. and Michigan economies over the short and long-term.
  • Modest increases in hiring and capital investment in Michigan over the next six months.

“The economy, both in the U.S. and Michigan, continues to get better, but the rate of growth has slowed in the last two quarters,” said Doug Rothwell, President & CEO of Business Leaders for Michigan.

Highlights of the survey of Business Leaders for Michigan include:

  • 35 percent believe Michigan’s economy will improve over the next six months. This is identical to last quarter’s forecast and is more optimistic than the national economy.
    Image 1 Aug 2011
  • 72 percent think Michigan’s economy will be better 18 months from now. This is an improvement of 5 percent from Business Leaders’ 1st quarter survey and shows more optimism than the national economy growth.
    Image 2 Aug 2011
  • Most Michigan companies expect to perform better than their sector competitors.

    The executives represent a cross-section of industries across Michigan and are in a unique position to assess the direction of the economy.Quarterly Economic Outlook Reports are available at businessleadersformichigan.com/researchand-reports.

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