A monthly survey of Jacksonville area manufacturers by the University of North Florida’s Local Economic Indicators Project is showing pessimism about the economy.
The Jacksonville Economic Monitoring Survey asks manufacturers for information on 12 indicators of their companies’ performance, and nine of the 12 indicators were contracting in May while the other three were unchanged.
“The overall manufacturers’ sentiment, particularly reflected in Jacksonville’s Business Activity Outlook Index, has become significantly pessimistic,” UNF economist Albert Loh said in his report from the survey.
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