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Financial News: Ireland Manufacturing Growth Remains Strong

Ireland Manufacturing Growth Remains Strong

05/03/2022 - 05:14:00 (RTTNews)

(RTTNews) - Ireland's manufacturing expansion remained strong in April, underpinned by robust growth in employment, survey results from S&P Global showed Tuesday.

The AIB Ireland manufacturing Purchasing Managers' Index fell to 59.1 in April from 59.4 in March.

This was among the highest in twenty-four years of survey history. Any reading above 50.0 indicates expansion in the sector.

New orders expanded at a softer pace in April and new export orders rose at the slowest rate thus far this year. Output grew for the fourteenth month in a row.

Production grew at a softer pace in April and backlogs of work increased at the slowest rate in four months.

Sentiment slumped to the lowest in sixteen months in April due to the war in Ukraine.

The rate of job creation rose to the highest in ten months and was the fifth-strongest since the survey began in 1998.

Suppliers' delivery times lengthened in April.

Input price inflation eased in April and led to a stronger rate of output price inflation since 2002.

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