KSU: Georgia manufacturing slowdown persists
Georgia’s manufacturing slowdown continued through June, according to the Econometric Center at Kennesaw State University’s Michael J. Coles College of Business.
Georgia’s June PMI of 52.1 is 1.7 points lower than May and 3.4 points below its six-month average of 55.4, said Don Sabbarese, director of the Econometric Center and professor of economics at Kennesaw State.
A PMI reading above 50 shows manufacturing activity is expanding, while a reading below 50 shows it is contracting.
Other highlights from the report:
- New orders rose 2.1 points to 60.4
- Production went up 2.1 points to 56.3
- Employment went down 2.1 points to 52.1
- Supplier delivery decreased 4.2 points to 47.9
- Finished inventory shrank 6.3 points to 43.8
- Commodity prices dipped 2.1 points to 45.8