IE manufacturing keeps growing
Manufacturing in the Inland Empire continued to grow during August.
The region’s purchasing managers index was 61 last month, up from 58.3 in July, according to data released Tuesday by the Institute of Applied Research and Policy Analysis at Cal State San Bernardino.
That was the eighth consecutive month the index has been above 50, the dividing line for determining whether Inland manufacturing is growing or shrinking. Any score above 50 means the region’s manufacturing sector, and its overall economy, is in good shape.
However, this month’s report includes one number that could be reason for concern: commodity prices, which rose nearly eight points, from 63.8 in July to 71.1 in August.
Otherwise, production and new orders were up, inventory dropped slightly and employment grew by seven points. Only deliveries were down month over month, by seven points.
Purchasing managers in Riverside and San Bernardino counties remained optimistic about the future of the local economy. Thirty eight percent of those surveyed said they expect it to get stronger during the next three months, while 52 percent said they expect it to remain the same.
Only 10 percent said they expect it to get weaker during that time, according to the report.