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Financial News: Ireland Manufacturing Growth Slows In September

Ireland Manufacturing Growth Slows In September

10/01/2021 - 02:47:00 (RTTNews)

(RTTNews) - Ireland's manufacturing sector expanded at a softer pace in September, survey data from IHS Markit showed on Friday.

The seasonally adjusted AIB factory Purchasing Managers' Index, or PMI, fell to 60.3 in September from 62.8 in August.

The PMI reading was the lowest since March. Any reading above 50.0 indicates expansion in the sector.

"The index has now been above 60 for six consecutive months, pointing to a very strong rebound in the sector this year," Oliver Mangan, AIB chief economist, said.

New orders grew for the seventh straight month in September and production increased.

The 12-month outlook for production remained positive in September. Employment increased for the twelfth month in a row in September and backlogs of work rose strongly.

Purchasing activity rose in September and suppliers' delivery time lengthened.

Input price inflation rebounded in September and output price inflation accelerated to a record high.

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