Purchasing Manager's Index
Georgia factories showed growth in March
by Walter C. Jones, Morris News Service
ATLANTA – The Georgia Purchasing Manager's Index rose 6.6 points last month to 61.8, showing continued to point to growth in the state's manufacturing sector.
Generally, a reading of 50 points or higher predicts future growth for the overall economy. March was the fourth straight month of increases.
Executives surveyed cited strong orders for new business as the need to bring on additional workers as positive signs at the plants they are responsible for.
"March's strong jump in new orders and employment were a surprise. These numbers confirm a stronger up-trend, but higher than anticipated," said Donald Sabbarese, director of the Econometric Center at Kennesaw State University where the index is compiled. "It's not clear that these numbers are sustainable, but for now, they are impressive."
The National March PMI decreased 2.9 points to 51.3 after steadily building since November. The national index, compiled by the Association for Supply Management, slid last month on the basis of weakness in new orders.