Inland manufacturing drops, but still manages to break even
The Inland Empire’s manufacturing sector settled for a tie in August.
The region’s purchasing managers index last month was 50, meaning manufacturing neither expanded nor contracted last month, according to the Institute of Applied Research and Policy Analysis at Cal State San Bernardino.
The monthly index has behaved erratically lately. It dipped below 50 in June, ending 29 consecutive months of growth, but bounced back to 55 in July, a solid number suggesting strong growth.
Now, a five-point drop and a “mixed bag” of economic news.
The new orders index continued to grow, but at a much slower pace than in recent months, while the production index fell below 50. Also, the employment index fell from 60 to 47, a drop the report called “precipitous.”
Sixty three percent of the survey respondents believe the local economy will remain unchanged during the next few months. Only fifteen percent predicted the local economy will become stronger in the upcoming months, and 22 percent believe the Inland economy will weaken during next quarter.”