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The Inland’s Purchasing Managers’ Index, a measure of the local manufacturing economy, fell in September from the previous month, but still remained 5 points above the growth/no growth line, the ninth month the index has remained north of that benchmark.
The report from the Institute of Applied Research at Cal State San Bernardino placed the local PMI at 55 for last month, down from August’s score of 61. For the index, anything above 50 represents growth.
The national PMI for September was 60.8, up 2 percent from August, according to the Institute of Supply Management. It was the 100th straight month of growth for the overall economy, ISM stated.
While the Inland numbers fell, “that simply means the rate of growth has slowed somewhat,” institute director Barbara Sirotnik said in a statement. But she also noted “sharp” drops in new orders, down more than 9 points, and the employment index, which dropped nearly 8.5 points. New orders slipped below the 50 percent growth mark, to 48.4.
“The employment index has been above 50 for nine months, and it is still above 50 (meaning growth), so if anything I’m […]