Georgia PMI rebounds in October

The Atlanta Business Chronicle

After two months of decline, Georgia’s manufacturing industry bounced back in October thanks to a big boost in new orders and production, according to the Econometric Center at Kennesaw State University’s Michael J. Coles College of Business.

Georgia’s Purchasing Managers Index (PMI) -- a reading of economic activity in the state’s manufacturing sector -- for October was 48.9, up 4.3 points from September. This shows that while Georgia’s manufacturing sector is still contracting, more survey respondents are seeing positive signs.

… “The boom in orders and its positive impact on production suggest that Georgia manufacturers are beginning to show some signs of growth,” said Don Sabbarese, professor of economics and director of the Econometric Center at the Coles College of Business. “If new orders continue to go up over the next few months, we may see further growth in production, which would be great news.”