December 2, 2016
The overall Purchasing Managers Index dropped in the Inland Empire for the second straight month to 45.3 from 47.6, while commodity prices rose to 63.3 from 54.5. The regional report by the Institute of Applied Research at Cal State San Bernardino notes that production and new orders dropped significantly.
An index reading below 50 for three consecutive months indicates the manufacturing sector in the region is trending toward a decline.
The institute says the region’s economy overall is in good shape though. Those numbers remain in a growth zone that’s expected to continue for the coming three months.
Following the presidential election, Inland Empire business leaders exhibited more confidence in the local economy in the coming quarter, believing the new administration will benefit business. The percentage of area purchasing managers forecasting a weaker economy dropped to 17% from 34% in October.
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