LANSING – Only 10 percent of Business Leaders for Michigan members believe the U.S. economy will improve in the next six months, according to a new quarterly survey from the group.
It was only 10 months ago that 50 percent of those taking the survey thought the U.S. economy was on an upswing. While Michigan’s economic numbers have been trending upward over the year, the U.S. rate has taken a dramatic turn for the worse.
The 6-month outlook found 28 percent of members believe the Michigan economy will be better, which is slightly down from the 35 percent-mark of the previous three quarters, but better than 2010 predictions.
“The good news from this survey is that Michigan’s largest employers believe they will out-perform their competitors over the near and long-term and they are much more optimistic about Michigan’s long-term economic prospects than they were a couple of years ago,” said BLM President and CEO Doug Rothwell. “About one-third of Business Leaders for Michigan companies are forecasting increased job creation and investment in Michigan over the next six months.”
The survey found 70 percent believe Michigan’s economy will improve over the next 18 months, which is on par with the 72 percent who thought that in the second quarter.
Meanwhile, 46 percent think the U.S. economy will improve during that time, which was down substantially from the 65 percent who said that a few months ago.
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