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Wednesday, March 5, 2014

SE Michigan Purchasing Managers Index shows dip in economic growth

The Southeast Michigan Purchasing Managers Index (PMI) for February dipped to 47.3, down from 52.3 in January. A PMI index value below 50 generally suggests economic growth is slowing. "Though the southeastern Michigan economy has slowed a bit, there's no reason to believe that this is a long-term slowdown, at most it could be described as a temporary cooling of the economy," said Timothy Butler, associate professor of supply chain management at Wayne State's School of Business Administration, who interpreted this month's results. "The southeast Michigan economy has been consistently strong since coming out of the recession. We should not be too concerned about two or three months of poorer results during this time of year," Butler said.
February prices for plastic, gasoline, propane, diesel fuel, petro chemicals, acrylic, polycarbonate, brass, rubber, plate steel and aluminum are all up. Items down in price include nylon and resin. The Southeast Michigan (PMI) is a research partnership between Wayne State University's School of Business Administration and the Institute for Supply Management – Southeast Michigan.

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