Southeast Michigan Purchasing Managers Index revives from winter's chill in March
The Southeast Michigan Purchasing Managers Index rebounded sharply to 55 in March from 47.3 in February, fueled by the economy’s emerging from a particularly harsh winter. A value above 50 indicates economic growth. "Three key indices contributed to the sharp upswing in this month’s PMI," said Nitin Paranjpe, adjunct faculty of supply chain management at Wayne State University’s School of Business Administration. "Production, new orders and employment indices all increased strongly, signaling an expanding economy. Also, notably, the finished-goods index dropped from 51.7 to 40.9, which also supports a growing economy."
