IE Business Daily Business news for the Inland Empire.
Inland Empire manufacturing continued to grow in October despite a drop in production within the two-county region, according to a report.
The purchasing managers index last month was 53.3, down from 56.2 in September, according to the Institute of Applied Research and Policy Analysis at Cal State San Bernardino.
A three-percent drop is noteworthy, but the index remained above 50 for the fourth consecutive month, so manufacturing in Riverside and San Bernardino counties continues to grow.
New orders remained steady in October, at 53.3, down slightly from September but still comfortably above 50. Production recorded an index of 60, well below the 69.2 of the previous month but still well above 50, which is the index’s line of demarcation. Three consecutive months above or below 50, in any category, determines growth or retraction.
The commodity price index in October was 53.3, the second consecutive month that number landed above 50.
Forty-two-point nine percent of the purchasing managers surveyed said they expect the Inland economy to weaken during the next three months, while 35.7 percent said they expect it to remain where it is now. Only 21.4 percent said they expect the local economy to improve during that time.
