Southeast Michigan purchasing index slides in September
The Southeast Michigan Purchasing Managers Index slipped to a level of 60.2 in September, off from the six-month high of 66 recorded in August. However, it is still an indication of a strong regional economy. The three-month average is 60.6, with a level above 50 reflecting an expanding economy. "The index has maintained a value of more than 50 since June 2014, an impressive 26-month streak of economic expansion for Southeast Michigan," Tim Butler, associate professor of global supply chain management in Wayne State University's Mike Ilitch School of Business, said in a news release.