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The manufacturing sector in Ireland continued to grow strongly in February but at a slower pace than the month before, survey results showed on Tuesday.
The AIB Ireland manufacturing purchasing managers' index score was 57.8 points last month, down from 59.4 in January.
IHS Markit, which conducts the survey, said the factory activity reading has been trending down since hitting a record high of 64.1 points in May last year. However, February's score remained well above the long-run survey average of 52.2. Coming in above 50 points, the reading indicated expansion and was the 17th successive month to do so.
Input price inflation remained a problem for Irish manufacturers.
‘The combination of strong demand, disruptions to supply chains, Brexit and continuing upward trend in prices of raw materials, energy and transportation, meant the pressure on costs remained very intense. Indeed, the rate of increase in both input and output prices re-accelerated to near record levels in February,’ commented Oliver Mangan, AIB chief economist.
The survey is sent to a panel of 250 manufacturing companies, with responses gathered between February 10 and 21.
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