As a result, manufacturers decreased their purchasing activity at the fastest rate since September 2011. Meanwhile, amid reports of Brexit uncertainty, sentiment towards activity in the coming 12 months was the lowest in over three years.
The seasonally adjusted Purchasing Managers’ Index® (PMI®) – an indicator designed to provide a single-figure measure of the health of the manufacturing industry – posted 48.6 in August, down from 48.7 in July, signalling the fastest deterioration in Irish manufacturing operating conditions since April 2013. The health of the manufacturing sector has now worsened for three months running. That said, the degree to which business conditions declined was modest.
The full Republic of Ireland Manufacturing PMI® Report is attached.
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