SE Michigan purchasing index rebounds in July

The Southeast Michigan Purchasing Managers Index rebounded strongly in July to a level of 60, following a sharp drop in June to a level of 47.1. A value above 50 indicates economic growth. "The return of the PMI in July to 60 is consistent with the months of March, April and May and suggest that the dramatic drop in June’s PMI was a fluke," said Nitin Paranjpe, a supply chain faculty member at Wayne State University’s School of Business Administration, in a news release. Among the components of the overall index, the production index jumped from 45.7 to 65.9, the new orders index went from 39.1 to 59.1 and the employment index increased from 57.1 to 63.6. The index is a research partnership between Wayne State’s business school and the Institute for Supply Management – Southeast Michigan. 

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