Manufacturing grows at a slower pace in February, but brisk in Michigan
By Daniel Wagner
The Southeast Michigan Purchasing Managers Index, a research partnership between Wayne State University’s School of Business Administration and the Institute for Supply Management – Southeast Michigan, indicates that metro Detroit’s business economy continued to improve in February. The PMI came in at a strong 65.1, slightly lower than the 65.9 reported in January. Generally, PMI index values above 50 suggest an expanding economy — the further above 50, the stronger the growth. "The Southeast Michigan PMI has been above 50 for 24 of the past 25 months, suggesting an improving business climate in Metro Detroit for two years now," said Timothy Butler, associate professor of supply chain management at Wayne State's business school.