The Southeast Michigan Purchasing Managers Index (PMI) increased to 56.3 in December, showing a faster economic growth rate than the prior month. Index values above 50 generally represent an expanding economy. The local PMI expanded for the 11th straight month in December, indicating that the economy in southeastern Michigan is growing stronger and sustaining growth.
According to the monthly survey of purchasing managers compiled by the Wayne State University School of Business Administration and the southeast Michigan chapter of the Institute for Supply Management, the improvement is driven by a number of factors.
"New orders and employment both expanded sharply in December, coming in at 60.3," said Timothy Butler, associate professor of global supply chain management at Wayne State's business school, who analyzed the survey results. To see the full report, click here.
According to the monthly survey of purchasing managers compiled by the Wayne State University School of Business Administration and the southeast Michigan chapter of the Institute for Supply Management, the improvement is driven by a number of factors.
"New orders and employment both expanded sharply in December, coming in at 60.3," said Timothy Butler, associate professor of global supply chain management at Wayne State's business school, who analyzed the survey results. To see the full report, click here.
