The PNC Economic Outlook – Michigan Businesses Optimistic about Sales, Hiring on Hold
Our spring 2015 survey of small and mid-sized business owners in Mich. shows a more positive outlook for their company’s and the U.S. economy, both at their the highest levels since the survey began in 2012.
Michigan’s economic growth will vary by region in 2015. The stronger U.S. economy will boost the manufacturing and transportation industries. Universities and hospitals provide stability. Detroit will battle for economic momentum with support from an improving housing market.
Small business owners are the economy's roots. It's encouraging how these findings reflect a more positive outlook about different dimensions of economic growth as spring begins.
This biannual survey dates back to 2003 and began in 2012 in Michigan. The overall results strongly support the PNC economists' forecast for real GDP growth of 3.25% to 3.50% this year –the highest since 2004.