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Financial News: Ireland Factory Growth Remains Strong In October

Ireland Factory Growth Remains Strong In October

11/01/2017 - 02:40:00 (RTTNews)

(RTTNews) - Ireland's manufacturing activity logged further strong expansion in October, though the rate of growth eased since September, survey figures from IHS Markit showed Wednesday.

The seasonally adjusted Investec Purchasing Managers' Index, or PMI, dropped to 54.4 in October from 55.4 in September. However, any reading above 50 indicates expansion in the sector.

New orders continued to increase at a sharp pace in October, despite the rate of growth easing from that seen in September. The rate expansion in output eased and was the slowest since March.

Employment grew at a solid and accelerated pace during October as firms responded to higher new orders.

On the price front, both input costs and output prices increased at weaker rates in October.

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