About This Meeting
Michigan State University Professor of Economics Charles Ballard, Ph.D. and Loomis, Sayles & Company Vice President David Sowerby CFA participated in a panel discussion on Thursday, January 5th, at the Detroit Economic Club. The meeting presented results from the fifth annual Michigan Economic Outlook Survey, and the panel discussion focused on forthcoming national economic policy and its impact on our state.
The survey results, with input from over 2,500 business people and 135 associations, show Michigan improved in almost every measure. This includes an increase in recommending Michigan as a place to start and grow business, as well as serving as a great place for young professionals. Per the report, Michigan continues to improve in providing unparalleled quality of life, a culture of entrepreneurialism and a large pool of talent.
From a state and national level, Ballard and Sowerby shared their insights on the 2017 economy.
“We are a lot closer to full employment than we used to be,” said Ballard, who mentioned the U.S.’s current economic expansion of over seven years is longer than most expansions in the post-war period. “And that makes it more of a challenge to find the right worker to be in the right place, and to have further economic growth.”
“Michigan can compete,” said Sowerby, commenting on the future of the state and implications if NAFTA ties are altered. “If there’s anything that makes me nervous about the new administration, it’s the tough talk on trade.”
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