IE Business Daily Business news for the Inland Empire.
Inland Empire manufacturing is growing again.
The region’s purchasing managers index in July was 54.2, up 2.1 from June, according to data released Aug.1 by the Institute of Applied Research and Policy Analysis at Cal State State San Bernardino.
More important, June was the third consecutive month the index was at or above 50, meaning manufacturing in Riverside and San Bernardino counties is expanding.
Production fell slightly between June and July but is still growing, while new orders went up slightly, only the fifth time in the last year that number has gone up month-over-month.
Production and new orders are the index’s major components.
Employment fell from 50 in June to 47.9 last month, while the price index went from 56 to 58.3 during that time. That indicated a “slight increase in inflationary pressure,” the report stated.
Inventory – units, not dollars – was at 64.6 in July a sharp increase from the 52.1 recorded in February.
The region’s purchasing managers were more pessimistic than they usually are. Not one of those surveyed said they expect the Inland economy to improve during the next three months, while 56.5 percent said they expect it to remain where it is.
Forty-three point five percent said they expect the local economy to weaken during the upcoming quarter, the report stated.
