Local economy grows — but slowly

The economy of the Inland Empire is expanding, but at a slower rate compared to previous months, according to a report released by the Institute of Applied Research at California State University, San Bernardino.

“What we’ve been experiencing over the past few months is that the economy appears to be growing, but it is pretty erratic and there’s a lot of variability,” said Shel Bockman, co-director of the institute.

The Purchasing Managers Index, which is ideally 50 percent, was 50.9 in December, which is a slight decrease from November’s PMI of 53.1, according to the report.

The employment index improved from November and October, but the fact that it remains below 50 is a concern, according to the report.

“Recent statistics are showing a rise in unemployment, and what we’re finding here is that it is true in the Inland Empire,” said Barbara Sirotnik, co-director of the institute.

The Inland Empire Report on Business surveys purchasing managers to gather data in a number of categories, including production level, new orders, inventory, employment and speed of supplier deliveries. Results show changes between two months, and are thought to be a good indication of the state of the economy.

A PMI above 50 for January would indicate that the local economy is growing, Bockman said, and it is important to look at these results in terms of a three-month period.