State specific economic forecasts don’t get much media play. In Michigan we are fortunate that the University of Michigan’s Research Seminar in Quantitative Economics has been preparing Michigan for specific economic forecasts since 1952. The latest iteration, “The Michigan Economic Outlook for 2018-2019” recently came out.
This forecast does two things. It confirms the positive change that we’ve seen in our community. It also supports the belief that a recession isn’t right around the corner.
Please feel free to call me at 989-791-3880 if you have questions regarding this forecast, the economy or investments.
The forecast’s “concluding thoughts” follow”:
“Michigan’s economy has continued to grow in 2017, and we foresee at least two more years of growth ahead. Our forecast brings Michigan’s job count nearly four-fifths of the way back from its trough in 2009 to its peak in 2000. That means that there is plenty of work still to be done in building and sustaining a world-class economy for the 21st century, but it should also serve as a point of pride for Michigan, which has demonstrated impressive resiliency after a very difficult start to the millennium. We believe that the outlook remains favorable for Michigan to continue its comeback story. If our forecast proves correct, Michigan’s economic recovery will extend to over ten years-among the longest continuous stretches of job growth in the state since the Great Depression.”
For those interested in the full forecast, click here.