November 6, 2015
According to data collected by the Institute of Applied Research at Cal State San Bernardino, manufacturers in the Inland Empire are lacking growth for the third month in a row. Despite the continued slowdown, 48 percent of respondents reported that business is better now compared to October 2014, as new capabilities are improving production volume.
John Husing, Chief Economist of the Inland Empire Economic Partnership, attributes some of this stunted growth to the strong dollar relative to foreign currencies. This past year, the dollar has increased 32 percent, which makes imports that much cheaper, in turn, increasing foreign competition for domestic manufacturers.
Many remain hopeful that President Obama’s recent signing of the new two-year federal spending bill will help stabilize the current economic uncertainty.