SE Michigan Purchasing Managers Index dips a bit, still shows growth
The Southeast Michigan Purchasing Management Index slipped to 59.9 in September from August’s reading of 60.2. However, the three-month average of 57.7 still provides strong evidence of an expanding economy, economists said.
“September marks the third consecutive month of increased economic activity throughout Southeast Michigan,” said Nitin Paranjpe, a supply chain faculty member at Wayne State’s School of Business Administration who interpreted this month’s results. “Contributing to the drop in September’s PMI was a reduction in production by about four points to 64.6 from 68.5 in August, and employment which fell about five points to 54.2 for the month.”
