Local economy, Big 3 continues to improve
By Joseph Szczesny
The local economy in the Detroit area continues to show signs of improvement. The Southeast Michigan Purchasing Managers Index (PMI) registered 62.6 in April, dipping slightly from 66.1 in March. However, values above 50 generally indicated an expanding economy, even though the local economy grew at a slower rate in April than in March, said Timothy Butler, associate professor of supply chain management at Wayne State's business school. "Every one of the eight individual indexes and three-month averages is at or above 50, and many are above 60," Butler noted. "This tells us that the economy continues a healthy expansion," he said. Ken Doherty, a member of the Institute for Supply Management and assistant vice president for procurement and strategic sourcing at Wayne State University, also commented in the story.