Financial News: Irish Manufacturing Upturn Sustains In March

Irish Manufacturing Upturn Sustains In March

04/01/2025 - 03:00:00 (RTTNews)

(RTTNews) - Ireland's manufacturing activity continued to expand in March amid solid increases in production and incoming new work, survey results from S&P Global showed on Tuesday.

The headline AIB Manufacturing Purchasing Managers' Index came in at 51.6 in March, down slightly from 51.9 in February. However, a score above 50 indicates expansion.

New orders grew at the fastest pace in nearly three years, and production volumes increased to the greatest extent for 13 months. Despite some firms citing headwinds from delayed business investment decisions and the impact of proposed US tariffs on global trade, new export orders increased at the fastest pace since early 2024, thanks to a modest rebound in demand across major European markets.

Workforce numbers increased for the fourth successive month in March, though the rate of job creation was only marginal and the weakest seen in this period.

On the price front, input prices rose markedly in March due to higher prices paid for energy, food, fuel, and raw materials. Nonetheless, the rate of inflation eased from February's 2-year high. Output price inflation softened to an eight-month low, linked to pricing power and competitive pressures.

Irish goods producers nonetheless remain somewhat concerned about near-term growth prospects amid worries about the impact of rising global economic uncertainty and US trade tariffs.

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