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Financial News: Ireland Manufacturing Growth Strongest In 3 Months

Ireland Manufacturing Growth Strongest In 3 Months

05/02/2017 - 02:17:00 (RTTNews)

(RTTNews) - Ireland's manufacturing activity expanded at the fastest pace in three months in April, underpinned by stronger rises in output, new orders and employment, survey figures from IHS Markit showed Tuesday.

The seasonally adjusted Investec Purchasing Managers' Index, or PMI, climbed to 55.0 in April from 53.6 in March. Any reading above 50 indicates expansion in the sector.

New orders grew at an accelerated pace in April, as new business from abroad rising at the quickest pace in 21 months. As a result, output rose at the fastest rate since January.

This forced Manufacturers to raise their staffing levels in April. The rate of job creation quickened noticeably from March and was the sharpest in the year-to-date.

On the price front, input price inflation eased for the second straight month, though it was still faster than the series average. Despite this, output price inflation quickened in April, encouraged by strong client demand.

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