Dip in purchasing index is unlikely sign of economic slowdown
The Southeast Michigan Purchasing Managers Index for February dipped to 47.3, down from 52.3 in January. A value above 50 suggests economic growth, with a value below 50 indicating a slowing economy. The slowdown is likely an aberration in what has been steady economic growth locally, said Timothy Butler, an associate professor of supply chain management at Wayne State University's School of Business Administration. "Though the southeastern Michigan economy has slowed a bit, there's no reason to believe that this is a long-term slowdown. At most, it could be described as a temporary cooling of the economy," he said. "The southeastern Michigan economy has been consistently strong since coming out of the recession. We should not be too concerned about two or three months of poorer results during this time of year," he said.