Manufacturing Sector Trending Downward, Regional Economy Still Growing
The Inland Empire Purchasing Managers Index dropped for the third straight month to 47.4 in December. An index reading below 50 for three consecutive months indicates the manufacturing sector in the region is trending toward a decline.
The regional report by the Institute of Applied Research at Cal State San Bernardino notes two key survey components, production and new-orders, both reflected “slightly positive signs.” And confidence in the state of the local economy increased to 31% from 20% in November.
The Institute’s Barbara Sirotnik projects the local economy will remain in growth mode for “at least the next three months.” She notes the area’s overall economy remains above the baseline.
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