Jacksonville’s economy is showing signs of contraction, according to a monthly survey of manufacturers by the University of North Florida’s Local Economic Indicators Project.

The survey’s main Purchasing Managers Index stood at 44.2 in June, unchanged from May. But 10 of the 12 indicators in the Jacksonville Economic Monitoring Survey were down in June, including the business activity outlook.

“This reveals that manufacturers and businesses in the area lack confidence in the future economic conditions and are likely concerned about demand and market stability,” university economist Albert Loh said in his report on the JEMS survey.

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