DETROIT—The Southeast Michigan Purchasing Managers Index (PMI) declined slightly from October to November, from 58.4 to 57.1. The PMI’s 3-month average was relatively unchanged at 57.7. A PMI value above 50 generally suggests an expanding economy.
While the regional economy remains strong, current events in Europe and elsewhere have some respondents concerned about future stability.
“In light of a variety of global issues, such as the ongoing Syrian refugee crisis and the recent terror attacks in Paris, some respondents are definitely taking more of a ‘wait-and-see’ approach,” said Nitin Paranjpe, the global supply chain management faculty member at Wayne State University’s Mike Ilitch School of Business who interpreted this month’s results.
Nearly 28 percent of survey respondents expect the economy to be less stable over the next six months, up sharply from about 7 percent in October.
“Events that cause unrest anywhere in the world can quickly affect the supply chain and the economy here at home,” said Kenneth Doherty, assistant vice president of procurement and strategic sourcing at WSU and an Institute for Supply Management board member.
The Southeast Michigan Purchasing Managers Index (PMI) is a research partnership between Wayne State University’s Mike Ilitch School of Business and the Institute for Supply Management - Southeast Michigan.
The full report can be found at http://www.ism-sem.org/resources/files/Report-on-Business_November-2015.pdf.
The Institute for Supply Management - Southeast Michigan serves its members as an affiliate of the Institute for Supply Management by providing superior opportunities for education, networking, and career enhancement as a means of advancing and promoting the leading edge practices and profession of purchasing and supply management. Visit their website at http://www.ism-sem.org.
Wayne State University is a premier urban research institution of higher education offering 370 academic programs through 13 schools and colleges to nearly 29,000 students. The Mike Ilitch School of Business offers AACSB-accredited programs at the bachelor, master and doctoral levels. Learn more at http://ilitchbusiness.wayne.edu.