|January 26, 2023|
Short-term economic outlook sounds like a ‘broken record’
INLAND EMPIRE – (INT) – The Inland Empire’s economy is distancing itself from the coronavirus pandemic but, other factors are putting a note of uncertainty on the future.
Fifty-six percent of local purchasing managers quizzed by the Institute of Applied Research at Cal State San Bernardino predict the economy will turn weaker in the coming quarter. That’s the highest level since May 2020.
They fret about increasing inflation, snarled supply chains, and gas prices higher than ever.
In its monthly report issued Monday, the Institute’s Director Dr. Barbara Sirotnik predicted continued economic volatility in the Inland Empire economy over the next few months. Her concern focused on supply chain disruptions, ongoing price increases, labor shortages, and now shortages and price hikes for commodities such as paper, food products, and oil due to the conflict in Ukraine.
Going forward, she said “This will sound like a broken record, but all we can say with certainty is that short-term predictions about the regional economy are impossible to make with any sense of accuracy.”
Story Date: April 9, 2022