CNN is reporting that manufacturing orders have stabilized and the industry will likely undergo an uptick.
Tempe-based Institute for Supply Management said its manufacturing index is beginning to climb after a 15-month slump.
“This is definitely a good start for the second quarter,” said the institute’s Norbert Ore.
The same cannot be said for automakers. The Detroit Free Press reports today that the state is already suffering the affects of the Chrysler bankruptcy.
Three metro Detroit plants are scheduled to close. Two Detroit area stamping plants closed down yesterday, citing fears that they wouldn’t be paid.
Beginning Monday, Chrysler will close all its U.S. plants for the next 60 days. The company hopes to eventually sell eight plants, including two already idled, The Free Press reports.
I’d love to have a first-hand account of the mood right now in Detroit. Any readers willing to share their thoughts?