Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Ireland's manufacturing sector saw growth pick-up in September, figures on Monday showed.
The latest AIM Ireland manufacturing purchasing managers' index rose to 51.5 in September, from 51.1 in August. The figure clawed further above the 50.0 no-change mark, which separates growth from decline. August's number had been a 22-month low.
Another month of expansion made it 24 successive months of growth for Ireland's manufacturing economy.
‘The slight rise in the PMI was driven by a much weaker fall in output and a faster rate of employment growth. These twin impacts were almost offset by a sharper decline in new orders, reduced pressure on suppliers' delivery times (worsening lead times positively influence the PMI score) and a slower rise in stocks of purchases,’ S&P Global said.
‘The overall improvement in business conditions signalled by the headline figure masked a fourth successive monthly contraction in new orders, the longest sequence of consecutive monthly falls since mid-2019. Moreover, the rate of decline was the fastest since January 2021.’
Input prices rose ‘steeply’ in September, amid a stronger dollar and component shortages. However, the rate of inflation eased to a 19-month low.
The survey features a panel of 250 manufacturers. Responses are collected in the second half of each month.
Copyright 2022 Alliance News Limited. All Rights Reserved.