4:19 am December 2, 2010, by Henry Unger
Georgia’s manufacturers have turned bullish on the economy, writes AJC reporter Dan Chapman.
After four months of declines, the Purchasing Managers Index, a barometer of the state’s manufacturing health released by Kennesaw State University, jumped six points in November indicating that factories are revving up production, Chapman writes.
Orders for manufactured goods rose a striking 11.3 percent. Manufacturers also plan to hire more workers, the survey shows.
“The numbers are moving in the right direction for a change,” said Don Sabbarese, director of the university’s Econometric Center. But “it is not clear whether or not November’s improvement will continue.”
Nearly half of the purchasing managers, though, expect higher levels of production over the next three to six months, Chapman reports.
The confidence expressed by Georgia’s manufacturers was echoed, largely, by the Federal Reserve’s so-called Beige Book, Chapman writes. The report shows that “economic activity rose modestly in October through mid-November” across the Atlanta region.
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- Henry Unger, The Biz Beat
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