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Inland manufacturing sector keeps growing

Inland manufacturing sector keeps growing

The Inland Empire manufacturing sector recorded it fourth consecutive month of growth in May, according to data released June 3.

The region’s purchasing managers index for the fifth month of the year was 51.1, a sign that manufacturing and the economy in Riverside and San Bernardino counties were growing, according to the Institute of Applied Research and Policy Analysis at Cal State San Bernardino.

On the negative side of the ledger, the index fell three points between April and May, meaning   manufacturing and the economy grew at a slower pace last month.

That trend has been happening for the last five months.

Production and new orders, the index’s two major components, both grew last month. The employment index fell from 51.7 in April to 41.7 in May, a “substantial” decline that raises concerns about the current economic recovery, the institute stated.

Seventeen point six percent of the purchasing managers interviewed said they expect the local economy to improve in the next three months, while 35.3 percent said they expect it to remain the same and 47.1 percent said they expect it to get weaker, according to the institute.

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