Printer Friendly

OCTOBER PURCHASING MANAGEMENT INDEX TICKS UP

 OCTOBER PURCHASING MANAGEMENT INDEX TICKS UP
 DETROIT, Nov. 3 /PRNewswire/ -- October's survey of The National


Association of Purchasing Management-Metro Detroit (NAPM-MD) ticked up 0.9 points to 52.9, vs. 52.0 in September. In October of 1991, the local purchasing management association survey also was 52.0.
 Comment:
 "Strength in the industrial economy of southeast Michigan emerged in the new order and production indicators for October," according to David L. Littmann, first vice president and senior economist of Comerica Bank in Detroit. "The weakest components of the survey were vendor performance and prices. What this means is that there remains considerable slack in the overall economy, as evidenced by low national capacity utilization data and very little new loan demand." However, Littmann noted that "if new order activity in the non-auto segment continues at October's pace, with inventories so low, there could be a large boost in production ahead."
 Items in e printers, freon, and semiconductors.
 AUTO NON-AUTO TOTAL
 Oct. Sept. Oct. Sept. Oct. Sept.
 NAPM-MD Index 65.6 68.6 48.2 46.0 52.9 52.0
 Production 78.6 78.6 52.6 50.0 59.6 57.5
 New Orders 75.0 78.6 59.2 47.4 63.5 55.7
 Inventories 60.7 67.9 38.2 41.0 44.2 48.1
 Employment 53.6 60.7 34.2 46.2 39.4 50.0
 Vendor Performance 39.3 53.6 40.5 46.2 40.2 55.7
 Prices 50.0 60.7 53.9 53.8 52.9 48.1
 Weighting 26.9 26.4 73.1 73.6 100.0 100.0
 Comerica Bank 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 0 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- 11/3/92
 /CONTACT: David L. Littmann, first vice president & senior economist, Comerica Bank, 313-222-7241/
 (CMA) CO: Comerica Incorporated;
 National Association of Purchasing Management-Metro Detroit ST: Michigan IN: FIN SU: ECO


SM -- DE008 -- 2073 11/03/92 12:39 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 3, 1992
Words:418
Previous Article:COTTON STATES LIFE AND HEALTH INSURANCE COMPANY ANNOUNCES A SUBSTANTIAL JUMP IN THIRD-QUARTER EARNINGS
Next Article:NEW BON JOVI ALBUM TO BE SOLD ON DIGITAL COMPACT CASSETTE
Topics:


Related Articles
PURCHASING MANAGERS REPORT OCTOBER EASING
DETROIT PURCHASING MANAGERS REPORT MINOR SLIP
DETROIT PURCHASING MANAGERS REPORT MINOR SLIP
LOCAL PURCHASING EXECS REPORT UNEQUIVOCAL STRENGTH
PURCHASING MANAGERS REPORT BEST CONDITIONS IN FIVE YEARS
METRO PURCHASING MANAGERS REPORT DECELERATION IN MAY
COMERICA SURVEY: PURCHASING MANAGERS REPORT AUTUMN UPTICK
Detroit Purchasing Managers Report October Slip - Comerica Bank.
Local Purchasing Managers Report November Slip - Comerica.
Key November Survey of Detroit Purchasing Managers by Comerica Suggests Continued Expansion at Slower Pace.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters