SE Michigan Purchasing Managers Index Suggests Expanding State Economy

DETROIT ? Another sign that the Michigan economy is gaining steam ? the Southeast Michigan Purchasing Managers Index for September gained five points from August, suggesting an expanding state economy.

The September index was 50.6, up from 45.7 in August, after three declining months before. A PMI value of 50 or more generally suggests an expanding economy, the Purchasing Managers Index said. Increases in production, new orders and vendor deliveries were the contributing factors to this month?s increase.

The Employment Index dropped slightly from 53.2 to the threshold index of 50.

?Employment, which had been growing, has basically leveled off,? said Nitin Paranjpe, a supply chain faculty member at Wayne State University?s School of Business Administration who analyzed the purchasing report from the Southeast Michigan chapter of the Institute of Supply Management.