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Regional Economy Remains on Fire
Inland Empire manufacturers’ production and orders are on the rise, meaning companies anticipate increased business from consumers, according to the latest economic report from the Institute for Applied Research at Cal State San Bernardino. The Purchasing Manager’s Index has been upbeat for 15 consecutive months, which reflects strong growth for both the manufacturing sector, as well as the overall economy.
The Institute’s Barbara Sirotnik noted the region’s purchasing managers index in March was 62.8, which was a slight increase from February, yet well above the 50 benchmark that measures local manufacturing growth.
The survey showed manufacturing remains in growth mode, with 35% of area purchasing managers forecasting the economy will improve in the coming quarter, and just 10% expecting it to weaken. The majority of respondents, 55%, believe the Inland Empire economy will remain the same for the coming quarter.
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