Purchasing Managers Report: Metro Detroit economy growing steadily
The Southeast Michigan Purchasing Managers Index (PMI) came in at 62.6 in April, dipping slightly from 66.1 in March. Index values above 50 generally suggest an expanding economy, and the higher above 50, the faster the growth. The latest numbers mean the local economy grew at a slower rate in April than in March. “Every one of the eight individual indexes and three-month averages is at or above 50, and many are above 60,” said Timothy Butler, associate professor of supply chain management at Wayne State’s business school. “This tells us that the economy continues a healthy expansion.”
