IE Business Daily Business news for the Inland Empire.
Inland Empire manufacturing stayed solid in May, growing for the ninth consecutive month.
The region’s purchasing managers index last month was 62.4, down slightly from April but still well above the 50 benchmark that determines growth or no growth, according to data released Tuesday by the Institute of Applied Research and Policy Analysis at Cal State San Bernardino.
May was the ninth consecutive month the index was above 50.
The production also remained “firmly in growth mode” last month, at 65.5, down three points from April. The commodity price index – 98.3 – was unchanged month-over-month, while new orders and employment reported gains.
Supply deliveries and inventory both recorded declines.
Forty-two percent of the purchasing managers surveyed said they expect the local economy to get stronger in the next three months, down from 56 percent last month. Thirty-five percent said they expect it to stay the same and 23 percent – a 12 percent increase from April – said they expect the local economy to get weaker, according to the report.
