A crystal ball is something Celeste Blanch of the Detroit Regional Chamber of Commerce does not have.
But if the Regional Confidence Index, which is based on the opinions of local employers is accurate, more businesses are feeling better about the future of Michigan’s economy.
Blanch offered her mildly optimistic projections for 2007, to members of the Orion Area Chamber of Commerce at its first luncheon of the new year at Canterbury Castle.
Blanch told attendees that despite continued job losses, small business closings, the issuance of 32 percent fewer residential building permits, and a 12-percent decline in housing starts in the region in 2006, a slight turnaround is in the forecast — possibly as early as mid-year.
The prognosis is based on the belief that auto-related job losses and gas prices have stabilized, along with the adoption of a generally more optimistic mood among employers and business owners.
‘Based on statistics from the Regional Confidence Index, there is reason to be somewhat optimistic,? said Blanch.
‘We’re still behind the national economy, but we’re feeling a bit more hopeful.?
She cited technology, energy, new product development and robotics as areas that are doing well in the present economy, adding that Google’s decision to bring 1,000 jobs to the Ann Arbor area is a boon for the region.
‘Although there are still dismal signs,? said Blanch, ‘there is an increase in confidence related to business for 2007.?
For more on Blanch’s visit to the Orion Area Chamber of Commerce, and to get the latest Chamber news, pick up a copy of next week’s hardcopy issue for The Biz.