More bad news for, and from, Georgia’s manufacturers.
For the third month in a row, according to a barometer of economic activity released Friday by Kennesaw State University, factory employment, production and orders dropped.
Chin up, though: Georgia’s manufacturing sector is still growing, albeit at a sclerotic pace.
The school’s Econometric Center reports that the Purchasing Managers Index (PMI) remains in overall positive growth territory with a 53.6 rating for September. That’s down 1.4 points from the previous month. Anything above 50 reveals an expanding manufacturing base.
Businesses “taking a breather” to restock inventory, and the expiration of home-buying tax credits, is party to blame for the downturn, KSU reported.
