IE Business Daily Business news for the Inland Empire.
Inland Empire manufacturing turned in another solid month in May.
The region’s purchasing managers index was 57.7, well above the 50 benchmark that determines an expanding manufacturing sector, according to the monthly report on business released yesterday by the Institute of Applied Research and Policy Analysis at Cal State San Bernardino.
That was the second consecutive month that the index was above 50; April’s index was 59.1. If the index comes in above 50 this month, the Inland manufacturing will officially be growing again.
The employment index dropped three points, to 51.6, but the fact that it remained above 50 means more companies were hiring than were letting people go. Also, 31 percent of the purchasing managers surveyed said they expect the local economy to improve during the next three months, while 16 percent said they expect it to weaken and 53 percent said they expect it to stay the same.
Those numbers were virtually unchanged compared with April, according to the index.
