IE Business Daily Business news for the Inland Empire.
Inland manufacturing declined slightly in August but still managed to stay in growth mode, according to data released today.
The region’s purchasing managers index last month was 51.9, down from 54.2 in July, according to the Institute of Applied Research and Policy Analysis at Cal State San Bernardino.
That’s the fourth consecutive month the index has been above 50, the number that determines whether manufacturing is expanding or contracting.
Production fell off, from 60.4 in July to 55.8 in August. New orders, a major element of the index along with production, also fell off, although only slightly; from 54.2 to 53.8.
“This is only the sixth time in the past year that the index has registered 50.0 or above, reflecting stable or increasing new orders,” the report states.
Employment was essentially unchanged – 48.1, up from 47.9 in July, while the commodity price index dropped from 58.3 to 55.8, a sign that inflation continues to fall.
How much optimism was there last month among purchasing managers in Riverside and San Bernardino counties? None. Not a single purchasing manager surveyed last month said they expect the local economy to get better during the next three months, while 54.2 percent said they expect it to stay the same and 45.8 percent said they believe it will get worse, according to the index.
