PMI: Economy cools, but hiring red hot

By Matt Roush

The Southeast Michigan Purchasing Managers Index came in at 60.3 in June, a marked drop from 66.3 in May. However, PMI index values above 50 generally suggest an expanding economy. “The Employment Index continues to indicate that employment conditions in Southeast Michigan are favorable,” said Timothy Butler, associate professor of supply chain management at Wayne State’s business school. “The three-month average is at a very strong level of 75.5, and at 76.1 this month, the index is close to a five-year high.”
 

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