March 3, 2017
Researchers at Cal State San Bernardino report the Inland Empire’s manufacturing sector remains in growth mode. The latest survey by the Institute of Applied Research reveals the Purchasing Managers’ Index (PMI) increased for the second straight month, following three months of declining sentiment.
The overall index increased to 58.6% in February, up from 56.8% in January and above 47.4% in December. PMI numbers above 50% percent indicate growth.
Forty-eight percent of the 29 Riverside and San Bernardino county manufacturing businesses surveyed predicted the local economy won’t change in the coming quarter, while 44% predict a stronger quarter ahead, and just 8% believe it will weaken.
Continued growth is expected, according to the institute’s Barbara Sirotnik, who noted low numbers in Q4 2016 were likely part of a cyclical trend.
For comments, questions or concerns, please contact Dennis Kaiser