IE Business Daily Business news for the Inland Empire.
The Inland Empire’s manufacturing sector continued to grow in April, but at a slower pace than it has in previous months, according to a report.
The region’s purchasing managers index was 52.8, down from 57.9 in March, the Institute of Applied Research and Policy Analysis at Cal State San Bernardino reported in its monthly breakdown of local manufacturing.
“The index has remained above the baseline 50 percent mark for the last 28 months, indicating sustained growth for both the manufacturing sector and the overall economy,” the report stated. “But the fact that the [index] decreased means that the rate of growth has slowed somewhat.”
New orders, production, commodity prices and supply deliveries were all above 50 in April, but all four sectors grew at a slower rate than they did in March. The Inland Empire’s employment index – 51. 7 – also grew but at a slower rate, having registered at 56.9 in March, the report found.
The region’s purchasing managers remained optimistic about the local economy. Twenty two percent of those surveyed said they expect the Inland economy to get stronger in the next three months, and 56 percent said they expect it to stay the same.
Twenty two percent said they expect the local economy to weaken during that time, the report stated.
