IE Business Daily Business news for the Inland Empire.
Manufacturing in the Inland Empire remained strong during March.
The region’s purchasing managing index last month was 59, virtually unchanged from February and the sixth consecutive month the index was above 50, according to the Institute of Applied Research and Policy Analysis at Cal State San Bernardino.
The institute publishes the index every month. Fifty or above means the Inland region’s manufacturing sector is expanding, below 50 means it’s decreasing.
Three consecutive months in either direction is considered a trend, so the Inland manufacturing sector is healthy and its economy is growing, said Barbara Sirotnik, director of the institute and co-author of the index.
Two of the index’s key components were strong last month. The Production Index, which reached 70.3, up nearly six points month-over-month, and the New Orders Index, which rose nearly three points to 65.6 during that time.
Employment, at 57.8, remained above 50 for the fifth consecutive month, with only a slight decrease in the rate of growth compared with February.
Purchasing managers remained optimistic about the local economy’s future.
Only nine percent of those surveyed said they expect the Inland economy to get weaker during the next three months, while 31 percent said they expect it to strengthen and 60 percent said they expect it to stay the same, according to the index.
