Georgia manufacturing rebounded last month, after three months of decline for the sector, according to a report today from the Kennesaw State University Econometric Center.
The center surveys companies on a series of questions and calculates purchasing managers index intended to sum up the direction of the manufacturing sector. Any PMI above 50 indicates growth.
In July, the PMI for Georgia increased 3.2 points to 52.5 — the first time since April that the index has been above 50. That PMI reflects an increase in five of the six categories measured, according to the KSU Econometric Center.
Highlights from the report:
• New orders were up, but were still well below their six-month average
• Production was up, also below its six-month average
• Employment was up strongly and was well above its average
Georgia’s PMI is now at a level close to the overall U.S. measure of manufacturing.
“Nationally, 11 of 18 manufacturing industries reported growth in July, including textile mills, miscellaneous manufacturing, chemical products, petroleum and coal products, and computer and electronic products,” according to the report.
The job market in Georgia has been growing faster than the national average. The unemployment rate in Georgia is now 5.1 percent.
Georgia has about 386,000 manufacturing jobs, up modestly during the past year. That is about 8.8 percent of the jobs in the state.
But a combination of factors – automation, out-sourcing and the state’s shift to services and logistics – has meant a smaller sector over the years. In the past decade, manufacturing has shed about 64,000 jobs. Compared to 1996, manufacturing employment in Georgia is down 30 percent.
About the Author
