other events of interest
The most recent Southeast Michigan Purchasing Managers Report can be accessed from the ISM-SEM Web Site: Click Here
The Southeast Michigan Purchasing Managers Report
The Directors of the 350-member Detroit Chapter of the Institute for Supply Management - Southeast Michigan (ISM - SEM), an affiliate of the Institute of Supply Management (ISM), are collaborating with Wayne State University economists to gather data and assist in preparing the Southeast Michigan Purchasing Managers’ Report.
The survey is currently produced by Wayne State University's School of Business / Global Supply Chain Management program. The team is headed by Dr. John C. Taylor, Director of Supply Chain Programs, and includes Dr. Timothy Butler, Associate Professor of Global Supply Chain Management, and Nitin V. Paranjpe, Ph.D. from the Economics School.
Policymakers, forecasters, and investors use the report to obtain an early read on developing economic conditions.
The Southeast Michigan Survey Methodology
The survey data is collected and tabulated in a Web-based format rather than by mailing a paper survey to our membership. This allows a greater number of members to respond to the survey, which provides broader coverage and a more statistically valid survey result. It also shortens the time between the collection and release of the data, making the report more relevant to policy and decision makers and those tracking changes in the Southeast Michigan regional economy. When its time to complete our Economic Survey, an e-mail is sent to our Membership with a link to the current survey. Member's are strongly encouraged to complete the on-line Purchasing Managers' Survey , which takes 2 to 3 minutes to complete (trust us on that).
The report is released to the media on the first business day each month. This early data release gives policymakers, forecasters, and investors an early read on developing economic conditions. Reports of the National and other regional Purchasing Managers’ Associations gain both national and local attention because they are released early in the month.
Linkage To National Economic Reports
One of the most widely tracked economic reports on the U.S. economy is the Report on Business, a monthly report issued by the Institute for Supply Management (ISM). The Report’s most widely cited single feature is a summary statistic called the Purchasing Managers Index (PMI), which indicates whether various economic sectors are expanding or contracting. The PMI has earned immense recognition over the years from economists and forecasters because of the report’s early and accurate reflection of the entire economy.
The PMI is a composite index based on diffusion indices for five indicators of economic activity (new orders, production, employment, supplier deliveries, and inventories). A PMI reading above 50 percent indicates that the economy is generally expanding; below 50 percent, that it is generally declining. A PMI over 42.7 percent, over a period of time, indicates that the overall economy, or Gross Domestic Product (GDP) is generally expanding; below 42.7 percent, that the economy is generally declining.
The Southeast Michigan survey bears many similarities to the national report, but the two reports are not strictly comparable. What ultimately makes the Southeast Michigan and U.S. data different is the scope of coverage. The national survey divides the data into two panels, one for manufacturing and another for non-manufacturing. By comparison, the Southeast Michigan index mixes manufacturing and non-manufacturing. In addition, the Southeast Michigan survey collects data from the ISM members in the Southeast Michigan region, which has a different mix of economic drivers compared to the national economy. The Southeast Michigan data reported is not seasonally adjusted at this time, while the national level data is reported on an adjusted basis.
2015 Calendar of Release Dates:
|Month||Survey Release Date||Date Report Finalized||Approximate Date for Press Release|
To ensure that we have an accurate reading of responses, the survey will not be available to access except during these dates.
Monthly report findings
Monthly report findings are available on the ISM-SEM Web Site (Click Here ) For additional information on the Southeast Michigan Purchasing Managers Report, contact Steven Welsh of ISM - Southeast Michigan at firstname.lastname@example.org or 734-355-8360.
If you are not a member of ISM - Southeast Michigan, but would like to receive the report directly by e-mail each month, send an e-mail to Kenneth Doherty at email@example.com
ISM - Southeast Michigan Purchasing Managers' Report Committee
Steven Welsh and Ken Doherty
Congratulations to our newly elected and appointed Board of Directors!
President: David Rodriguez
Vice President: Lori Sisk
Treasurer: Colleen Lang
and thanks to
Melissa Countryman our Immediate Past President