Manufacturing activity in the Jacksonville area was stable in November but businesses are becoming more optimistic about the year ahead, according to a monthly survey by the University of North Florida’s Local Economic Indicators Project.
The Purchasing Managers’ Index derived from the survey of manufacturers in Northeast Florida stood at 50 in November, indicating no change from the previous month.
However, the index was below 50 for seven straight months before November, indicating contraction in activity in those months. A reading above 50 indicates expansion.