Orange County's manufacturing sector is expected to show more life in the second quarter than the first – and it's projected to outperform the statewide industry, according to a new survey of purchasing managers conducted by Chapman University's A. Gary Anderson Center for Economic Research.
The anticipated uptick comes from the county's Composite Index, which is made up of production, employment, new orders, inventories of purchased materials, commodity prices and supplier deliveries. The index read 65.3 for the second quarter, up from 61 in the first quarter. Statewide, the measure rose to 62.2, up from 59.7 in the first quarter, which marks the highest level in five years. The readings point to a faster rate of expansion in the period compared to the previous quarter (a measure over 50 signals growth).
Locally, new orders, employment, commodity prices and inventories of purchased materials are expected to show higher growth rates in the second quarter over the first; but the production index "decreased marginally" to 68, down from 68.9 in the first quarter.
"Production is expected to continue to grow in the second quarter at roughly the same rate as in the first quarter," notes the report.
Still, the factor is slightly above the state's reading of 67.7, which rose from 66.7 in the first quarter.
Here's a look at how some of the other figures shake out:
• O.C.'s high-tech industries index: Q2 – 64.7; Q1 – 58.1 (statewide: Q2 – 62.9; Q1 – 56)
• O.C.'s durable goods industries other than high tech: Q2 – 74.3; Q1 – 64.3 (statewide: Q2 – 63.2; Q1 – 62.9)
• O.C.'s nondurable goods industries: Q2 – 63.6; Q1 – 57.7 (statewide: Q2 – 60.7; Q1 – 59.5)
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