Southeast Michigan Purchasing Managers Index climbs again in August

The Southeast Michigan Purchasing Managers Index climbed 7.1 points in August to 60.2, continuing a climb from an unexpected drop in June, during which the index fell to 49.2. A level above 50 indicates a growing economy. The August jump was driven primarily by two components of the index: production and new orders, both of which were up by more than 10 points. Production was up from 54.8 to 68.5, and new orders were up from 53.2 to 64.8. "These values correspond closely to positive news from domestic automakers regarding sales, and to generally positive consumer confidence reports," Timothy Butler, associate professor of global supply chain management at Wayne State University's School of Business Administration, said in a news release.

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