After three strong months, Georgia’s manufacturing apparently slipped into a lower gear in May, according to Kennesaw State’s Econometric Center.
Production overall was down at the state’s factories, according to the survey conducted each month by the center. That came despite more than one-third of those responding saying they had seen their production rise.
The center uses a series of responses to calculate an index for Georgia manufacturing. When the index falls below 50, it is declining.
“Production and employment for May are still at desirable levels for growth,” said Don Sabbarese, director emeritus of the Econometric Center and professor of economics at Kennesaw State University. “However, new orders and finished inventory’s sharp monthly adjustments leaves the (index) below the 50 benchmark for growth.”
For the previous six months, the Georgia index had averaged a robust 56.9. Last month’s responses dragged the index down to 49.4, he said.
All the major components were down during the month, including new orders, employment and prices.
About 387,500 peopole in Georgia work in the manufacturing sector, according to the Bureau of Labor Statistics.
That is 9,000 more than a year ago. It is 64,300 fewer than a decade ago.
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