|September 25, 2021|
Local Purchasing Manager’s Index (PMI) takes a hit
INLAND EMPIRE – (INT) - Local purchasing managers have put the first spin on the region’s economy since the outbreak of the COVID-19 pandemic.
Ninety-six percent predict a weakening local economy in the next three months.
Four of the key indicators in the PMI (the Production, New Orders, Inventory, and Employment Indices) have dropped significantly. The Production Index is at the second lowest figure since the local PMI was debuted in 1995 by the Institute of Applied Research (IAR) at Cal State San Bernardino.
The decline was the steepest for a single month since December 2015. “The only time the index has registered consistently below this month was during the recessionary period from late 2007 to 2009,” said IAR Director Barbara Sirotnik
Story Date: April 11, 2020