Originally posted on CBS Detroit:
DETROIT — The Southeast Michigan Purchasing Managers Index for January is at 55.3, an increase of 3.5 points from the December PMI of 51.8, indicating faster growth in the Southeast Michigan economy than a month ago.
Generally, index values above the level of 50 indicate growth.
Gains in new orders and employment were the significant contributing factors to this month’s increase.
New orders gained more than 10 points, increasing to 58.9 in January after dipping below the threshold index in December at 48.5. The employment Index increased slightly, from 53.2 to 55.4, and the production index increased just less than a point to 55.4 from 54.5 last month.