SE Michigan index shows steady economic growth
The Southeast Michigan Purchasing Managers Index for April fell to a level of 53.6, down from 55 in March. A value above 50 indicates economic growth. "The good news is the economy is continuing to come back," said Tim Butler, associate professor of supply chain management at Wayne State University’s School of Business Administration. "That the PMI settled down a bit from March only demonstrates that the rate of growth is continuing at a steady pace, overall. Another indicator of an expanding economy is the three-month moving average index, which increased from 51.5 to 52," he said. The Southeast Michigan Purchasing Managers Index (PMI) is a research partnership between Wayne State University’s School of Business Administration and the Institute for Supply Management – Southeast Michigan.