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Financial News: Ireland Factory Growth Remains Strong

Ireland Factory Growth Remains Strong

02/01/2018 - 01:22:00 (RTTNews)

(RTTNews) - Ireland's manufacturing growth remained elevated at the start of the year, despite easing from December's record high, survey data from IHS Markit showed Thursday.

The seasonally adjusted Investec Purchasing Managers' Index, or PMI, dropped to a 3-month low of 57.6 in January from 59.1 in December.

However, any reading above 50 indicates expansion in the sector.

Among components, output, new orders and employment all increased sharply during the month.

Improving economic conditions, both in Ireland and abroad, underpinned the latest improvements.

On the price front. input price inflation accelerated at the fastest pace since February last year, driven by higher raw material costs and oil prices.

At the same time, output price inflation eased to the weakest in the current 20-month sequence of rising charges amid competitive pressures.

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