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Manufacturing Economy Slips, Remains in Growth Mode
Connect Inland Empire is planned for Wednesday, October 18th. Here’s where to register for the conference.
A report from the Institute of Applied Research at Cal State San Bernardino shows the Inland Empire’s manufacturing economy slowed down last month. The regional Purchasing Managers’ Index (PMI) fell from a score of 61 in August to 55 in September, though it is still above the key growth benchmark of 50. It was the ninth month the Inland Empire index remained in growth mode.
Institute director Barbara Sirotnik says, “While the Inland numbers fell, “that simply means the rate of growth has slowed somewhat.” She also pointed out there were “sharp” drops in new orders (down more than 9 points), and the employment index (dropped nearly 8.5 points). New orders slipped below the 50% growth mark, to 48.4, following eight months at high levels.
That could mean companies are scaling back on employee hours because they’ve already produced what’s needed for the holiday season, or orders are already in.
For comments, questions or concerns, please contact Dennis Kaiser
