The Irish manufacturing sector regained some momentum in the penultimate month of 2020 as business confidence improved, the November PMI® data from AIB indicated. New orders and output both returned to growth, and the manufacturing workforce registered a back-to-back rise for the first time in over a year. Consequently, firms’ expectations for output over the next 12 months were the strongest since the start of the year.
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 from 50.3 in October to 52.2 in November. This signalled a fifth month-on-month improvement in business conditions in the past six months, and took the headline figure
above its long-run trend level of 51.8 (since May 1998). The latest figure was the third-highest since April 2019.
The full Republic of Ireland Manufacturing PMI® Report is attached.
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