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Financial News: Ireland Manufacturing Growth Robust In September

Ireland Manufacturing Growth Robust In September

10/02/2017 - 01:19:00 (RTTNews)

(RTTNews) - Ireland's manufacturing activity continued to expand strongly in September, though the rate of expansion eased since August, survey figures from IHS Markit showed Monday.

The seasonally adjusted Investec Purchasing Managers' Index, or PMI, dropped to 55.4 in September from 56.1 in August. However, any reading above 50 indicates expansion in the sector.

New orders grew at the sharpest pace in twenty-six months in September, which was the key driven of the latest manufacturing expansion.

Production rose for the fourteenth successive month and the rate of growth was sharp, despite easing slightly from that seen in August. Employment also increased at a slower pace.

On the price front, input price inflation accelerated to a three-month high in September, led by higher prices for raw materials including wood and metals. Meanwhile, output price inflation softened.

Business confidence picked up to a four-month high in September, with close to 49 percent of respondents forecasting a rise in output over the coming year.

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