DETROIT — A survey of Business Leaders for Michigan, 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, BLM president and 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 near-term 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 six months.
Business leaders are optimistic about the long-term economy for the U.S. (74 percent), yet more continue to forecast a bright outlook for Michigan (83 percent).
Additionally, 72 percent of BLM members expect their sales to increase over the next six months and 98 percent expect their sector of the economy to do the same or better over the next six 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 www.businessleadersformichigan.com/research-and-reports.
Business Leaders for Michigan is the statewide successor organization to Detroit Renaissance. The organization is composed exclusively of the chairpersons, chief executive officers, or most senior executives of Michigan’s largest companies and universities, which contribute nearly 25 percent of the state’s economy and provide over 320,000 jobs in Michigan, generate over $1 trillion in annual revenue and serve over 135,000 students. The organization’s work is defined by the Michigan Turnaround Plan. Visit www.michiganturnaroundplan.com for more information.