Cincinnati Ohio Economic Development

Cincinnati manufacturing shows expansion in August

Business Courier
Manufacturing stays strong, Cincinnati economic report says Cincinnati’s manufacturing sector remained a bright spot in the local economy in August, showing “vigorous economic expansion,” according to a newly released economic report.

The Cincinnati Purchasing Management Index came in at 59.3 in August, according to the Cincinnati Report on Business from the Institute for Supply Management Cincinnati and the University of Cincinnati’s Economics Center.

The monthly index fell from 63.9 in July. But any reading above 50 indicates economic expansion.

The level of growth is “comfortably positive,” wrote Ben Passty, a professor at the University of Cincinnati’s Economics Center, in the monthly report.

But the margin of safety has narrowed for many key indicators, such as new orders, production and employment.

The index’s decline from July represented the second-biggest drop in the past 12 months. Steep drops in growth of production and new orders could be a concern. And weak results for the U.S. economy could hurt Cincinnati manufacturers’ ability to sell products to the rest of the country, Passty wrote.

Read the Business Courier article here.