Southeast Michigan Purchasing Managers Index Declines In November

DETROIT – The Southeast Michigan Purchasing Managers Index for November is 58.3, down from 63.1 in October. Despite a slow-down in the rate of growth, the three-month average for the economy registered a robust 60.4. A PMI value above 50 generally suggests economic growth.

?Purchasing managers attribute the slow-down to a weakening in production and new orders as well as employment and commodity prices,? said Nitin Paranjpe, a supply chain faculty member at Wayne State?s School of Business Administration, who interpreted this month?s results. ?However, it?s important to note that even with November?s drop in the overall PMI, each sub-index is above 50, solidly confirming continued growth in our economy,? Paranjpe said.

A release with more information, including a link to the full PMI report, can be found at http://media.wayne.edu/2013/12/02/economy-grows-at-a-slower-rate-for.