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Financial News: Ireland Manufacturing Growth Robust In July

Ireland Manufacturing Growth Robust In July

08/01/2018 - 02:20:00 (RTTNews)

(RTTNews) - Ireland's manufacturing activity continued to expand strongly in July, survey data fro IHS Markit showed Wednesday.

The Investec factory Purchasing Managers' Index dropped marginally to 56.3 in July from 56.6 in June. However, a score above 50 indicates expansion in the sector.

Among components, both output and new orders grew at marked rates in July, amid strengthening client demand.

Anecdotal evidence suggested that the unusually long spell of hot weather boosted output and new business at some firms, but led to reductions at others.

On the price front, input price inflation accelerated to a three-month high in July, led by higher raw material prices such as fuel, oil and plastics. As a result, the rate of charge inflation quickened from June.

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