Inland manufacturing has solid November

Inland Empire manufacturing appears to be closing out 2024 on a positive note.

The region’s purchasing managers index was 55.5 in November, a slight month-over-month increase and the fifth consecutive month that number was above 50, according to the Institute of Applied Research and Policy Analysis at Cal State San Bernardino.

Fifty or above indicates growth, below 50 indicates a decline. Three consecutive months in either direction establishes a trend, so Inland manufacturing is solid with only one month left in 2024.

Production last month was 55, down from 60 in October but still safely above 50. New orders – 50 – were also stable. November was the 12th consecutive month new orders were at or above 50 in Riverside and San Bernardino counties.

The Commodity Price Index rose to 70, up from last month’s 53.3. This was the third consecutive month that category has topped 50, indicating continued growth in commodity prices. The region’s inventory level was 67.5, up from 46.7, an increase attributable mostly to holiday shopping.

Thirty one percent of the purchasing managers surveyed said they expect the Inland economy to improve during the next three months, 10 percent said they expect it to get weaker and 57 percent said they expect it to remain the same, according to the index.