|January 27, 2022|
Inflation, jobs, supplies and pandemic impact economic recovery
INLAND EMPIRE – (INT) – Resilience in the local economy reflects strength in the region’s manufacturing sector as 2022 opens.
That’s the upshot of the monthly Purchasing Manager’s Index (PMI) issued Wednesday by the Institute of Applied Research at Cal State San Bernardino.
Twenty-percent of the purchasing managers surveyed forecasted a strengthening local economy for the next 3 months, a significant increase from December’s 4%. Thirty-six percent predicted that the economy would be weaker in the coming quarter. The remaining 44% predicted that the economy would remain unchanged.
The report acknowledges skyrocketing inflation, difficulties finding skilled labor, emergence of the Delta and Omicron variants, and supply chain disruptions. “If these issues begin to ease in 2022, the Inland Empire economy will continue its recovery,” according to the report.
Story Date: January 20, 2022