Southeast Michigan Purchasing Managers Index hits 6-month high
The Southeast Michigan Purchasing Managers Index climbed 1.8 points in April to 66.3, hitting its highest level in the last six months. The three-month average is up to 62.3, with values above 50 suggesting economic growth. "In April, three specific indices lead the way," said Timothy Butler, associate professor of supply chain management at Wayne State University’s School of Business. "Notably, the production, new orders and employment indexes all posted numbers above 60, which signals healthy growth in the Southeastern Michigan economy." In the April, travel costs, equipment parts and petroleum were up in price, while plastics, resin and copper were down. The index is a research partnership between the business school and the Institute for Supply Management – Southeast Michigan.