IE Business Daily Business news for the Inland Empire.
The Inland Empire’s manufacturing sector is growing again.
The region’s purchasing managers index for March was 62.4, up from 58.6 in February and the third consecutive month that number as been above 50, according to data released Monday by the Institute of Applied Research and Policy Analysis at Cal State San Bernardino.
Fifty or above means region’s manufacturing sector is expanding; below that means it’s contracting. Three consecutive months in either direction establishes a trend, so manufacturing in Riverside and San Bernardino counties is moving in the right direction, at least for now.
All of the elements that make up the purchasing managers index – commodity prices, production, new orders, inventory, employment and supplier deliveries – were above 50 during March, an indication that the region’s economy is doing well.
Even the slight month-over-month drop in supplier deliveries – from 53.4 in to 51.6 – was a good sign, because it indicates suppliers were busy last month and were not as able to keep up with demand as they were in February.
Forty five percent of the purchasing managers surveyed said they expect the Inland Empire economy to improve during the next quarter, while 48 percent said they expect it to remain the same. Only seven percent said they expect it to get weaker, according to the index.
