Southeast Michigan Purchasing Index slips in November amid worries about world events
The Southeast Michigan Purchasing Managers Index slipped in November, falling from 58.4 to 57.1, amid worries about world events, including the recent terror attacks in Paris. A value above 50 indicates a growing economy. The three-month average is 57.7. "In light of a variety of global issues, such as the ongoing Syrian refugee crisis and the recent terror attacks in Paris, some respondents are definitely taking more of a ‘wait-and-see’ approach,” Nitin Paranjpe, the global supply chain management faculty member at Wayne State University’s Mike Ilitch School of Business, said in a news release. Nearly 28 percent of survey respondents expect the economy to be less stable over the next six months, up sharply from about 7 percent in October. “Events that cause unrest anywhere in the world can quickly affect the supply chain and the economy here at home,” said Kenneth Doherty, assistant vice president of procurement and strategic sourcing at WSU and a board member of the Institute for Supply Management board member. The index is a research partnership between WSU and the Institute for Supply Management - Southeast Michigan.
