DETROIT –
Good news again from the Southeast Michigan Purchasing Managers Index, which
moved up slightly from April to May, suggesting that economic growth continues unabated.
The numbers
show the May index was 66.4, compared with 66.3 in April. The three-month
averages also increased to 65.7. A PMI value above 50 suggests positive
economic growth.
“The
Production index led the growth last month, gaining nearly 10 points,� said Nitin
Paranjpe, a supply chain faculty member at Wayne State�s School of Business,
who interpreted this month�s results. “The New Orders and Employment indices
also continue to be very strong.”
Kenneth
Doherty, assistant vice president of procurement and strategic sourcing at WSU
and Institute for Supply Management board member, says the PMI indicates strong
and steady economy.
“The economy
has been very stable in recent months,” Doherty said. “The numbers indicate an
optimistic outlook going into the summer.”
Overall,
87.5 percent of respondents said they expected the economy to stay about the
same or become more stable over the next six months, while only 12.5 percent
believed the economy would become less stable.
The
Southeast Michigan Purchasing Managers Index is a research partnership
between Wayne State University’s School of Business and the Institute for
Supply Management – Southeast Michigan.
