Report Finds Solid Economic Growth In Southeast Michigan
DETROIT—The Southeast Michigan Purchasing Managers Index (PMI) for April is 53.6. Though that's down slightly from 55.0 in March, it is still indicative of an expanding economy. A PMI value above 50 generally suggests economic growth.
"The good news is the economy is continuing to come back," said Tim Butler, associate professor of supply chain management at Wayne State's School of Business Administration, who interpreted this month's results.
"That the PMI settled down a bit from March, only demonstrates that the rate of growth is continuing at a steady pace, overall. Another indicator of an expanding economy is the three-month moving average index, which increased from 51.5 to 52.0," Butler said.
