North Florida key manufacturing indicators increase in November, showing rebound from October

Manufacturing in Florida is far from over.

After a few months of slowdowns, North Florida manufacturing is improving as several key indicators showed signs of expansion in November.

The University of North Florida (UNF) Coggin College of Business published its Jacksonville Economic Monitoring Survey (JEMS) this week and two key indicators are on the upswing. Manufacturing output on the First Coast showed a notable uptick in November with an index rating of 52. That’s an increase from the October rating of 44. The November figure is also up from the September rating of 51.

Albert Loh, interim dean of the UNF business college, oversees the monthly survey of North Florida regional manufacturers and said the output index “signifies that production activity in the region is in an expansionary phase, reflecting increased economic activity compared to the previous month.”

Meanwhile, new orders among Jacksonville-area manufacturers also showed an upbeat trend with an index of 52, up from October’s rating of 46.

“The Jacksonville new order Index at 52 in November indicates a modest expansion in new order activity, signaling increased demand for goods and services compared to the previous month. This expansion is a positive development for the local economy, as new orders often serve as a leading indicator of future production and economic activity,” Loh said in a news release.

Several other essential manufacturing indicators either remained neutral in November or offset each other with modest indications of expansion and contraction. Loh said November’s report shows a return to stability in the general scene.

“The Jacksonville area PMI (purchase manager’s index) at 50 in November reflects a neutral stance, indicating no overall change from the previous month. This stability contrasts with the national PMI of 48.4, which signals contraction, though at a slower pace than in October. Jacksonville’s steady performance highlights its relative resilience in the face of challenges affecting the broader U.S. manufacturing sector,” Loh said.

“The local economy benefits from pockets of optimism, including a positive business activity outlook index of 57, suggesting regional manufacturers anticipate growth over the next 12 months. Factors such as steady demand, robust holiday-season activity, and expectations of easing interest rates contribute to a cautiously optimistic outlook for 2025.”