DECEMBER 2020 Key Takeaways:
- Satisfaction With the Economy in Michigan was at a near-record high (82%) one year ago and collapsed to a record low of 11% in May. It has now rebounded to 28%.
- Business Performance: The percentage of businesses describing their performance as pretty good or excellent plummeted from 81% before the pandemic to only 8% in May. It has now ticked back up to 27%. More than three in four (76%) said they were in not so good or poor shape in May, but that number has dropped to 50% now.
- Ninety-four percent (94%) say their business is open now, which was at only 65% in May.
The special COVID-19 Impact Survey covered topics such as how businesses are coping, what are business owner’s expectations are for the future, and how well they think our leaders are meeting their needs. It allowed businesses in Michigan to speak in one voice to those making critical decisions in Lansing and Washington DC.
