Confidence Slips: Orange County manufacturers failed to...

Confidence Slips: Orange County manufacturers failed to sustain their second-quarter spurt of increased confidence in the economy, Chapman University’s Center for Economic Research reported.

The center’s Orange County Purchasing Managers Index of economic confidence dipped to a level of 50.5 in the third quarter from 51.6 in the second quarter, university economist Raymond Sfeir said. The slight drop means there was no perceivable change. Readings above 50 indicate improving performance, readings below 50 indicate declining manufacturing activity.

Respondents to the quarterly survey said that high-technology companies outperformed the rest of the manufacturing sector.