2018 Economic Forecast Forum

2018 Economic Forecast Forum
Approximately 300 business leaders attended the 2018 Economic Forecast Forum, co-hosted by the Michigan Chamber Foundation and the Michigan Bankers Association.

Program Highlights

Seven Ways to Think Like a Futurist

Ford Motor Company futurist, Sheryl Connelly, provided an unconventional forecast at the 2018 Economic Forecast Forum held January 10 in Ann Arbor. Given the uncertainty of the future, Connelly offered these seven tips to help business leaders better position their organizations for the future:

  1. “You can’t be afraid of the future.” It’s how you respond to it that matters.
  2. “Beware of the SWOT Analysis.” Connelly equates the standard review of strengths, weaknesses, opportunities and threats to “glorified naval gazing.” She weighs looking outward as more valuable.
  3. “It’s better to be generally right than precisely wrong.”
  4. “Be provocative.” It’s the job of leaders to push back on the status quo.
  5. “Be plausible.” Connelly elaborated that it’s important to make future scenarios real. “Not everyone has the appetite to be challenged.”
  6. “Imagine multiple futures” to prepare for anything.
  7. “No one can predict the future, but you should try.” In the end, you are responsible for creating your own future.

The 2018 Ford Trends Report offers additional information on how consumers and brands are pushing through in uncertain and interesting times. 

2018 Economic Outlook for Michigan Positive

State Treasurer Nick Khouri told business leaders at the Economic Forecast Forum that Michigan should expext to experience continued economic expansion and low unemployment. Khouri also noted that General Fund revenues are expected to grow but available resources will decline with road funding expenditures. In addition, he noted that Michigan's School Aid Revenue is expected to increase, allowing $400 million more to K-12 schools.

Khouri concluded his remarks with a positive outlook on Michigan’s continued economic competitiveness and government efficiency. Click here for more details from his presentation.

View Khouri's presentation on Michigan's Progress and Challenges.