Inland manufacturing stays hot
Manufacturing in the Inland Empire refuses to slow down.
The region’s purchasing managers index in February was 59.1, two points higher than it was in January and well above the 50 benchmark that determines whether manufacturing is expanding or contracting, according to data.
Perhaps most important of all, February was the 14th consecutive month of manufacturing expansion in Riverside and San Bernardino counties, the Institute of Applied Research and Policy Analysis at Cal State University San Bernardino reported.
Employment last month was 54.7, up from 50 in January, with most of the new hiring happening in permanent rather than temporary positions. New orders registered a slight month-over-month increase.
“The fact that both of these key indices continues to be above the 50 percent baseline reflects increasing consumer confidence and the expectation that consumer purchases will increase in the near future,” the index stated.
Delivery speed slowed down, a good sign because it means suppliers are too busy to deliver as quickly as they did previously.
Forty seven percent of the purchasing manager’s surveyed predicted the local economy will get stronger during next three months, while 43 percent said they expected it to stay the same.
Only 10 percent predicted it will get weaker during that time, according to the index.