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Financial News: Ireland Manufacturing Growth Slows In April

Ireland Manufacturing Growth Slows In April

05/01/2019 - 03:42:00 (RTTNews)

(RTTNews) - Ireland's manufacturing expansion eased in April amid a slowdown in output growth and inflows of new business, survey data from IHS Markit showed on Wednesday.

The AIB Manufacturing Purchasing Managers' Index, or PMI, fell to 52.5 in April from 53.9 in March.

Any reading above 50 indicates an expansion in the sector.

Stocks of finished goods among manufacturers rose at a fastest rate in past 21 years. Pre-production inventories increased for the seventh straight month.

Output and new orders increased at a slower pace and growth in new work eased to the weakest since September 2016. Export sales increased at a softer rate in April.

Manufacturers reduced their backlogs of work for the eighth month in a row to the softest level in five months.

The rate of job creation were solid despite falling to a three month-low.

On the price front, input cost inflation increased from March, but was second-slowest in twenty eight months. While, output charges rose slightly at the slowest pace in the current four months.

Overall business sentiment dipped slightly from March.

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