UNF survey finds optimism among manufacturers

A monthly survey of Jacksonville manufacturers by the University of North Florida’s Local Economic Indicators Project is painting a more optimistic picture of the Northeast Florida economy.

A purchasing manager’s index derived from UNF’s Jacksonville Economic Monitoring Survey rose from 49.7 in September to 51 in October, signaling modest growth in the area’s economy. A number above 50 indicates expansion.

Five of the 12 individual indicators in the survey showed expansion in October.

“Local businesses in Jacksonville appear to be managing output effectively despite softening orders, and there are indications of confidence in future business activities, with the Business Activity Outlook Index rising,” UNF economist Albert Loh said in the monthly report.