Optimism about the future of Michigan’s economy took a
dive in a new survey of the state’s largest employers conducted by Business
Leaders for Michigan.
The BLM’s second-quarter 2015 survey found that a substantial
majority of Michigan’s top business executives project that the Michigan and U.S.
economies will remain flat in the next 6 to 18 months.
substantial. In the prior quarterly survey, 58 percent of respondents forecast an
improving Michigan economy in the next six months. That number is now down to
31 percent.
The outlook for the U.S. economy declined slightly, with 33
percent expecting improvement.
that the state’s economy will remain essentially the same over the next six to
eighteen months – and only slightly outpace the nation over the same time
period,” said Doug Rothwell, BLM President and CEO, in a statement.
“Recent global conditions in China, Europe and the Middle
East are clearly having an impact. But Michigan’s inability to adopt a
long-term road solution and talk of dramatically scaling-back economic
development have also contributed to a climate of uncertainty.”
leaders project their companies will add jobs and make capital investments in
Michigan over the next six months.
BLM noted that no respondents believe the economy will
get worse.
dropped precipitously in the second quarter. While 76 percent of business
leaders were fairly bullish on the Michigan economy in the first quarter, that
number is down to 44 percent.
As for the U.S. economy, 39 percent see growth coming eventually, compared to 59 percent who were optimistic
about long-term trends in the prior survey.
state’s largest private sector job providers that represent nearly one-third of
the state’s economy. The organization is composed exclusively of the
chairpersons, chief executive officers, or most senior executives of Michigan’s
largest companies and universities.
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