The latest PMI® survey data from AIB highlighted continued challenges across the Irish manufacturing sector in July. Output declined for the second time in as many months, and at a faster rate, as order book volumes fell at the strongest pace since January 2021. According to panellists, demand conditions had weakened both domestically and abroad, in part due to rising costs. Nonetheless, firms raised their charges again in July in response to greater cost burdens.
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 registered 51.8 in July, down from 53.1 in June. Although still above the neutral level of 50.0, the latest figure was indicative of the slowest improvement in the health of the sector since January 2021.
The full Republic of Ireland Manufacturing PMI® Report is attached.
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