Subscribe to INT Podcast
|July 12, 2020|
PMI hits record pace
INLAND EMPIRE – (INT) – The latest Purchasing Manager’s Index attests to the region’s economic vitality.
All of the major components of the PMI registered significantly above the growth mark of 50. Production
registered 75 – the highest level recorded since the Report on Business generated by Cal State San Bernardino was first published in 1993. New Orders also increased sharply to 70 – a figure exceeded only twice 2004 and May 2005).
Another piece of good news is that the Employment Index grew from 53.4 last month to 58.1 this month, and is the third straight month the index has remained above 50.
The improvement in the PMI was reflected in purchasing manager’s confidence in the future local economy. This month 45% of purchasing managers forecast that the local economy will improve in the coming quarter and only 7% believe that the economy will become weaker, the Institute of Applied Research said.
Story Date: April 10, 2017