Inland Empire manufacturing stays strong
The Inland Empire’s manufacturing sector continued to grow during May.
The region’s purchasing managers index was 62.7 last month, up from 56.8 in April, according to data released Thursday by the Institute of Applied Research and Policy Analysis at Cal State San Bernardino.
More important, the index was above 50 for the fourth consecutive month, meaning manufacturing in Riverside and San Bernardino counties had been growing for four consecutive months.
All of the major components that make up the index, including production, new orders, inventory and employment, were up last month. Even the region’s purchasing managers, normally a pessimistic bunch, were encouraging: 57 percent of those surveyed said they expect the local economy to get stronger during the next three months, while 35 percent said they expect it to remain the same.
Only eight percent said they expect the local economy to get weaker during that time, according to the index.