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DETROIT PURCHASING MANAGERS REPORT STRENGTH

 DETROIT PURCHASING MANAGERS REPORT STRENGTH
 DETROIT, May 1 /PRNewswire/ -- The following was released today by


Manufacturers National Corporation (NASDAQ-NMS: MNTL):
 Summary:
 The April 1992 survey of the National Association of Purchasing Management-Metro Detroit (NAPM-MD) registered a composite index of business conditions level of 57.8, a 3.3-point gain from 54.5 in March. A year earlier, the April 1991 index stood at 42.8.
 Comment: "The results of April's survey are most encouraging," according to David L. Littmann, first vice president and senior economist of Manufacturers National Corporation. "Nearly across the board, from new order and production activity to employment and inventory building, including auto and nonauto sectors alike, a slow but significant recovery now seems established in southeastern Michigan's industrial economy."
 Littmann added that he was relieved that the price index component of the survey, while still showing firmness above 50.0 (52.7) was down from a 57.3 level reported in March. "If sustained commodity price pressures had pushed this index above 60.0, we would be looking at probable prime rate hikes by the end of summer." Littmann also noted the rather puzzling decline in "vendor performance," but said this strongly suggested that, with industry generally operating at 78 percent to 79 percent of capacity, no major bottlenecks to production or deliveries were being encountered.
 Items in Short Supply:
 Items reported to be in short supply during April included several electrical and electronic parts, some bearings and stainless steel valves, cobalt, a high-pressure resin, and freon.
 MARCH/APRIL 1992
 AUTO NONAUTO TOTAL
 March April March April March April
 NAPM-MD Index 59.8 61.5 52.1 56.5 54.5 57.8
 Production 60.5 76.7 55.8 65.0 57.3 68.2
 New Orders 76.3 83.3 60.5 71.3 65.3 74.5
 Inventories 57.9 60.0 47.7 53.7 50.8 55.4
 Employment 50.0 53.3 47.7 57.3 48.4 56.3
 Vendor Performance 50.0 36.7 46.5 41.5 47.6 40.2
 Prices 52.6 53.3 59.3 52.4 57.3 52.7
 Weighting 30.6 26.8 69.4 73.2 100.0 100.0
 Manufacturers National Corporation compiles the NAPM-MD survey report from monthly responses of local purchasing managers belonging to the 500-member NAPM-MD (National Association of Purchasing Management- Metro Detroit). The report indicates whether fundamental measures of the economy are stronger, weaker or unchanged from the prior month.
 The Composite Index (CI) is a seasonally adjusted weighted average measure of new orders and production activity along with employment, inventories and the promptness of supplier company deliveries. The index ranges from zero to 100. A CI below 50 generally means conditions are deteriorating; CI levels above 50 denote expansion. The CI and its components have been tabulated since October 1985.
 -0- 5/1/92
 /CONTACT: David L. Littmann of Manufacturers National Corporation, 313-222-7241/
 (MNTL) CO: Manufacturers National Corporation ST: Michigan IN: FIN SU: ECO


KK -- DE017 -- 5434 05/01/92 11:31 EDT
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Date:May 1, 1992
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