SE Michigan Purchasing Managers Index shows continued economic expansion
The Southeast Michigan Purchasing Managers Index (PMI) for August is 54.8, which is just above the PMI's three-month average of 54. A PMI value above 50 generally suggests economic growth. In a show of confidence, more than 93 percent of the respondents believe the Southeast Michigan economy will remain stable or become more stable over the next six months. "The Employment Index has been at 50 or above continuously since July 2012, reflecting steady growth in Southeast Michigan jobs," said Timothy Butler, associate professor of supply chain management at Wayne State's School of Business Administration.