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Financial News: Ireland Manufacturing Growth Strongest Since Dec 1999

Ireland Manufacturing Growth Strongest Since Dec 1999

12/01/2017 - 01:37:00 (RTTNews)

(RTTNews) - Ireland's manufacturing activity expanded at the sharpest pace in nearly eighteen years in November, survey data from IHS Markit showed Friday.

The seasonally adjusted Investec Purchasing Managers' Index, or PMI, climbed to 58.1 in November from 54.4 in October. Any reading above 50 indicates expansion in the sector.

Among components, output, new orders and employment all rose at much stronger rates than in October.

The strong expansion in new business was the fastest since the end of 1999 and one of the steepest in the survey's history.

On the price front, input price inflation accelerated to a 7-month high in November amid reports of higher costs for raw materials including aluminium, paper and plastics.

At the same time, output price inflation eased to the weakest since February amid some reports of competitive pressures.

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