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|October 22, 2020|
Purchasing managers weigh in on “V” shaped economic recovery
INLAND EMPIRE – (INT) – Area purchasing managers doubt the region will see a quick economic recovery from the pandemic-induced recession.
The monthly Purchasing Manager’s Index (PMI) issued Monday by the Institute of Applied Research at Cal State San Bernardino found “Clearly our respondents do not agree with the relatively few economists who believe that a “V” shaped recovery is likely.”
Thirty-eight percent of the purchasing managers who were surveyed believe that the economy will become even weaker in the coming quarter. Only 29% think it will be stronger over the next few months, and the remaining 33% think the economy will continue struggling.
“This month’s PMI has once again provided an indication of contraction in the Inland Empire manufacturing sector and overall economy,” said institute director Dr. Barbara Sirotnik.
Story Date: August 13, 2020