DETROIT-The Southeast Michigan Purchasing Managers Index (PMI) jumped to 60.0, from 53.6 in April. This is the first time since October 2013 that the PMI reached this level. A PMI value above 50 generally suggests economic growth.
“May was a good month for the Southeast Michigan economy and the six-month outlook is promising,” said Nitin Paranjpe, a supply chain faculty member at Wayne State’s School of Business Administration, who interpreted this month’s results. “The PMI shot up to 60, bringing the three month average to 56.2 and it is joined by strong showings in both the Employment Index and Commodity Prices Index as well,” Paranjpe said.
— Wayne State University