Results from a new survey of purchasing managers show that the Southeast Michigan economy slowed sharply in November.
Comerica Bank’s Michigan Economic Activity Index fell one point in May, ticking down to a level of 87. The May index level is 16 points, or 23 percent, above the cyclical index low of 71.
The Southeast Michigan Purchasing Managers Index declined to 67.7 in May from 67.9 in April, according to economists at Wayne State University’s business school. Meanwhile, commodity prices are surging.