December's Southeast Michigan Purchasing Managers Index suggests economy may be slowing

The Southeast Michigan Purchasing Managers Index fell below 50 in December for the first time in 22 months, crossing the threshold that indicates a contracting economy. The index, a survey of area purchasing managers, is a joint effort of the Southeast Michigan chapter of the Institute for Supply Management and the Wayne State University School of Business Administration. It fell to 47.6 in December, off from 51.5 in November and 59.7 in October. Anything over 50 indicates a growing economy. "It remains to be seen if this is a temporary dip in local economic activity," said Timothy Butler, an associate professor of supply chain management at WSU. "We will be concerned about the stability of metro Detroit's economy if this trend continues over the next several months, but it's too soon to say."

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