IE Business Daily Business news for the Inland Empire.
The Inland Empire manufacturing sector is growing again.
The two-county region’s purchasing managers index was 56.2 in September, up from the 51.3 index recorded in August, according to a report released Oct. 4 by the Institute of Applied Research and Policy Analysis at Cal State San Bernardino.
More important than that strong month-over-month increase, September was the third consecutive month the index was above 50. That means manufacturing in Riverside and San Bernardino counties has officially returned to growth mode.
The region’s production index in September was 69.2, a substantial increase from August, when that number was 56.7.
New orders – along with production the key element of the PMI – was 57.1, up from 53.3 month-over-month.
On the downside, the manufacturing sector’s employment index was 39.3, a notable drop from 46.7 in September and the third straight month that number was below 50. Also, the commodity price index rose to 64.3, ending a 61-month streak of that number being above 50.
The Inland region’s purchasing managers were pessimistic in September.
Only 9.1 percent said they expect the local economy to improve during the next three months, while 54.5 percent said they expect it to remain the same and 36.4 percent said they expect it to get weaker during that time, according to the report.
