DETROIT – The Southeast Michigan Purchasing Managers Index for October is 54.7, down slightly from September?s 59.4. A PMI value above 50 generally suggests economic growth.
?We continue to enjoy a bright economic outlook, said Timothy Butler, associate professor of supply chain management at Wayne State?s School of Business, who interpreted this month?s results. Key indicators for growth include the New Orders Index, the Finished Goods Inventory Index and the Employment Index. In fact, the Employment Index has remained over 50 since July 2012.?
Purchasing managers? confidence continues to be up, with 93.4 percent believing the Southeast Michigan economy will remain stable or become more stable over the next six months, while only 6.7 percent anticipate a less stable economy.
Respondents reported prices were up for resins, aluminum and steel for the month, while oil and copper were down in price. They also noted the Ebola crisis disrupted air transportation and reported travel cost increases.
The Southeast Michigan Purchasing Managers Index (PMI) is a research partnership between Wayne State University?s School of Business Administration and the Institute for Supply Management ? Southeast Michigan.
The Institute for Supply Management – Southeast Michigan serves its members as an affiliate of the Institute for Supply Management by providing superior opportunities for education, networking, and career enhancement as a means of advancing and promoting the leading edge practices and profession of purchasing and supply management.
