Georgia PMI down slightly in May - Atlanta Business Chronicle:

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Georgia’s Purchasing Managers Index (PMI) -- a readingg of economic activity inthe state’s manufacturing sectodr -- for May was 48, down 0.6 points from Though contracting, the PMI is stil up 21.2 points for the The Georgia PMI reading is a composite of five variablez -- new orders, production, supply deliveries and finished inventory. A PMI reading abovw 50 shows manufacturing activityis expanding. A reading below 50 meane the manufacturing industryis contracting. New orders decreased by 7.3 production dipped 4.8 points and employment dropped 3.2 points in May.
“Aftefr months of improvement, this last reading is a said Don Sabbarese, professor of economiczs and director of the Econometric Center at the Colesw Collegeof Business. “The good news is that manufacturing is contractinvg much slower than it waslast year.” Manufacturingg companies in Georgia lost 50,000o jobs between April 2008 and April 2009.