Ireland's Manufacturing Sector Reports Marginal Upturn
Ireland's manufacturing sector conditions improved slightly in October, with output stagnating amid subdued demand, according to S&P Global.
The AIB Ireland manufacturing purchasing managers' index fell to 50.9 in October, down from 51.8 in September. A reading above 50 indicates an increase in business activity, while a reading below signals a contraction.
"The modest improvement in manufacturing conditions in October was driven by gains in new orders and employment, while output growth stalled and inventories decreased more quickly,"said David McNamara, AIB chief economist.
Output stagnated in October, with respondents citing subdued demand conditions. The latest figure marked the weakest improvement in the manufacturing sector since January.
- The AIB Ireland manufacturing purchasing managers' index fell to 50.9 in October.
- Output stagnated amid subdued demand conditions.
- The latest figure marked the weakest improvement in the manufacturing sector since January.
Author's summary: Ireland's manufacturing sector sees slight improvement.