By Jim Steinberg, The Sun
Posted: 09/03/13, 6:00 PM PDT | Updated: 2 hrs ago
A report that takes the pulse of the region’s manufacturing economy pinpoints potential trends that could threaten the area’s recovery.
For the second month in a row, figures reported in the San Bernardino/Riverside county purchasing manager’s report remained below the 50 percent benchmark that suggests growth, according to a Cal State San Bernardino report released Tuesday.
The reading of 47.4 for August remained virtually unchanged from the July figure of 47.2.
But while the index suggests that manufacturing is not on a growth trend, the report indicates that other sectors are continuing to grow.
The threshold for growth on the index is 42.2 or higher for the non-manufacturing economy, said Barbara Sirotnik, director of the Institute of Applied Research, which puts out the report.
The last time the PMI registered below 42.2 was in October 2009, suggesting that the economy of the two-county area has seen 47 months of continuous, though slow, growth.
A part of the monthly report is an assessment of what area purchasing managers feel will happen to the regional economy in the coming quarter. Forty percent predicted the local economy will become weaker in the coming quarter, up from 37 percent in the report for July. This was the highest degree of pessimism since December.
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