For the second straight month, one of the key indicators of economic well-being in the Inland Empire received a positive rating.
Dr. Barbara Sirotnik and Lori Aldana of the Institute of Applied Research said the November Inland Empire Purchasing Managers' Index (PMI) decreased slightly to 52.1 percent from October's 54.0.
"The important thing is that this is the second month in a row that the index has remained above the baseline 50 percent mark, the level which indicates growth in the Inland Empire manufacturing sector and economy as a whole," Sirotnik and Aldana said in the monthly Inland Empire Report on Business.
Some of the results of other categories also were similar to those of the previous month, the authors said.
“The Production Index dipped slightly from last month’s 60.0 to 56.9 this month, thus production is still growing, although at a slightly slower pace than last month," the authors said. "Similarly, the New Orders Index decreased from 63.3 to 53.4 -- again, new orders are growing, although the rate of growth has slowed since last month. The Commodity Prices Index is unchanged from last month’s 51.7, showing that prices have increased only slightly."
The Inventory Index was virtually unchanged from last month, 46.7 to 46.6, the report said, and the Employment Index was identical to the previous month at 50.0.
"The Supplier Deliveries Index increased from 50.0 last month to 53.4 this month, showing that deliveries have slowed. This is typically seen as a sign that suppliers are busier than they were last month," Sirotnik and Aldana said.