The local seasonally adjusted Purchasing Managers Index (PMI) increased in February to 58.6 from 58.0 in January. Any reading over 50 indicates growth in production.
Marquette reported that the manufacturers responding to the survey made the following observations:
"Economic conditions continue at a very slow but positive pace."
"No major changes in any of the commodities we purchase, with stable pricing and inventory readily available."
"Exchange rate changes between China and U.S.A. noted – as well as wage inflation in China."
"Speculators harming the cost of copper."
"Incoming orders are strong."
"Automotive demand continues to strengthen."
"Continued strong demand in heavy duty truck manufacturing markets."