Strong month for employment helps keep S.E. Michigan Purchasing Managers Index strong
A robust Employment Index helped keep the Southeast Michigan Purchasing Managers Index (PMI) relatively unchanged from May to June, decreasing negligibly from 66.4 to 66.1. The PMI’s three-month average stayed strong, improving from 65.7 to 66.3. A PMI value above 50 generally suggests economic growth.
Keeping very much in line with recent trends at the national level, the Employment Index increased more than 13 points from May to June, from 68.8 to 82.1.
“Employment continues to be strong, which is certainly great news for recent college graduates in the region,” said Timothy Butler, an associate professor of global supply chain management at Wayne State University’s School of Business, who interpreted this month’s results.
While May to June saw the first month-to-month decrease of 2015, Kenneth Doherty, assistant vice president of procurement and strategic sourcing at WSU and an Institute for Supply Management board member, pointed out that the 3-month average increased for the fourth consecutive month.
“Everything still points to a strong economy through the summer,” Doherty said.
The Southeast Michigan Purchasing Managers Index (PMI) is a research partnership between Wayne State University’s School of Business and the Institute for Supply Management - Southeast Michigan.
