Decline in Ireland manufacturing sector halts in November - PMI survey

(Alliance News) - A two-month decline in factory sector activity in Ireland was arrested in ...

Alliance News 1 December, 2023 | 7:38AM
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(Alliance News) - A two-month decline in factory sector activity in Ireland was arrested in November, though only just barely, amid an improvement in production requirements, according to survey results released by S&P Global on Friday.

Less positively, export orders declined for the third straight month.

The AIB Ireland manufacturing purchasing managers' index came in at 50.0 points in November, indicating neither growth nor decline. This was up from 48.2 points in October and 49.6 in September and was the second highest reading since February.

"Very marginal increases in output and orders combined with a modest rise in employment were the key features of the November PMI data," commented Oliver Mangan, chief economist at AIB.

"Output rose fractionally following eight months of declines. Similarly, new orders edged slightly higher having fallen for most of the last eighteen months. Export orders, though, decreased again in November, with firms reporting continued subdued demand conditions in overseas markets."

The PMI is compiled by S&P Global from responses to surveys sent to a panel of about 250 manufacturers in Ireland. Responses are collected in the second half of the month.

By Tom Waite, Alliance News editor

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