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PURCHASING MANAGERS REPORT SECOND MONTHLY IMPROVEMENT

 DETROIT, Oct. 1 /PRNewswire/ -- The following are results from the National Association of Purchasing Management -- Metro Detroit survey:
 Summary
 A survey of the National Association of Purchasing Management -- Metro Detroit (NAPM-MD) in September reported the second consecutive monthly gain in the Composite Index of business conditions for Southeastern Michigan's industrial economy. Compiled by Comerica Bank, the index registered 57.5, a 3.8-point improvement over August. A year ago September, the composite index stood at 51.7.
 Comment
 "September's survey is encouraging primarily because it reflects better overall new order and production activity," said David L. Littmann, first vice president and senior economist with Comerica Bank in Detroit. "There was anxiety at the outset of the third quarter that forward momentum had been lost, particularly in the auto industry, and that the U.S. economy might stumble. Gains in August and September have helped overcome that pessimism," said Littmann.
 Littmann noted, however, that many NAPM-MD survey respondents continued to comment on cautious hiring policies and uncertainty with regard to domestic fiscal policies and foreign recessions.
 Items cited in short supply during September included gray and ductile iron castings, many categories of steel (possibly due to the federal ruling on steel dumping), electronic memory chips, micro computer components, PVC plastics, heat-resistant stainless steel castings, heptane, hexane, and other chemicals.
 AUTO NON-AUTO TOTAL
 Sept. Aug. Sept. Aug. Sept. Aug.
 NAPM-MD Index 66.3 50.1 54.3 55.0 57.5 53.7
 Production 81.8 42.3 69.4 61.4 72.6 56.3
 New Orders 72.7 57.7 54.7 56.8 59.3 57.0
 Inventories 77.3 50.0 59.4 56.8 64.0 55.0
 Employment 68.5 57.7 45.3 54.1 51.2 55.0
 Vendor
 Performance 30.0 45.8 46.9 48.6 42.9 48.0
 Prices 70.0 69.2 53.1 63.9 57.1 65.3
 Weighting 25.6 26.0 74.4 74.0 100.0 100.0
 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 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 reading below 50 generally means conditions are deteriorating; levels above 50 denote expansion. The Composite Index and its components have been tabulated since October 1985.
 -0- 10/1/93
 /CONTACT: David L. Littmann, first vice president and senior economist of Comerica Bank, 313-222-7241/
 (CMA)


CO: Comerica Bank ST: Michigan IN: FIN SU: ECO

KE -- DE028 -- 7955 10/01/93 16:45 EDT
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Publication:PR Newswire
Date:Oct 1, 1993
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