The Irish manufacturing sector saw a boost to business in December as firms prepared for the end of the Brexit transition period, the latest PMI® data from AIB indicated. New orders and output both rose at the fastest rates since July’s post-lockdown bounce and purchasing accelerated as firms sought to expand inventories to guard against a potential hard Brexit. Suppliers’ delivery times lengthened to one of the greatest extents in the survey history as a result.
The headline AIB Ireland Manufacturing PMI® is a composite single-figure indicator of manufacturing performance. It is derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases. Any figure greater than 50.0 indicates overall improvement of the sector.
The PMI rose sharply from 52.2 in November to 57.2 in December. This signalled a sixth overall improvement in manufacturing business conditions in the past seven months, and the strongest growth since July. Moreover, the five-point rise in the headline figure was the third-largest on record since the survey began, behind only those registered in June and July as the sector reopened following the first coronavirus lockdown.
The full Republic of Ireland Manufacturing PMI® Report is attached.
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