The Southeast Michigan Purchasing Managers Index took a precipitous decline in July, down nearly 10 points from the June level to 51.7. Anything over 50 indicates a growing economy, but for now at least, the local expansion has nearly stalled. It was the fourth straight month of decline since the index hit a high of 71.8 in March. It is the 18th straight month above 50. "It is possible that this slowdown can be attributed to a temporary summer slowdown in manufacturing," said Nitin Paranjpe, an economist and faculty member in supply chain management at Wayne State University, which analyzes monthly results compiled by the local chapter of the Institute for Supply Chain Management.

http://www.crainsdetroit.com/article/20110801/FREE/110809995
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