A survey of company purchasing executives across the Central San Joaquin Valley points to solid economic growth across the region over the coming months, according to a report Thursday from a Fresno State economist.
Ernie Goss, a research faculty member, produces the monthly San Joaquin Valley Business Conditions Index for Fresno State’s Craig School of Business.
The October index reached a score of 55.6, up from 55 in September and the highest reading since March.
An index of 50 is considered growth-neutral; anything above that indicates positive growth over the next three to six months. September and October follow a summer in which the index was below 50.
“After three straight months with readings below growth-neutral, the index has now moved above growth-neutral for two straight months,” Goss said. “The region experienced positive growth in the manufacturing sector, food processing companies detailed strong growth, and expansion was recorded in wholesale trade and distribution.”
The index polls companies’ purchasing managers or executives on employment, wholesale prices, business confidence, supply inventory, imports, exports, production and sales, new orders, and delivery lead time.