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Irish manufacturing activity worsened in October, amid a decline in new orders, according to survey results published on Wednesday.
The AIB purchasing managers’ index for the sector fell to 48.2 points last month from 49.6 in September.
‘Faster reductions in output volumes and incoming new work were the main factors weighing on the headline PMI in October. The latest fall in new order intakes was the steepest since December 2022,’ said S&P Global, which compiles the PMI data.
Exports declined, with manufacturers pointing to weak demand from elsewhere in Europe.
‘Other elements of the October PMI data also painted a weak picture of manufacturing,’ commented Oliver Mangan, AIB chief economist.
‘Employment numbers stagnated after increasing over the third quarter. There was another steep fall in order backlogs, as well as a renewed decline in stocks of finished goods. October also saw a marked reduction in the purchases of inputs, while the stock of pre-production inventories declined too.’
The PMI is compiled by S&P Global from the responses to questionnaires sent to purchasing managers at 250 Irish manufacturers. Responses are collected in the second half of the month.
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