Ireland Manufacturing Sector Recovers In June

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Ireland’s manufacturing sector expanded in June as lockdown measures were relaxed, survey data from IHS Markit showed on Wednesday.

The seasonally adjusted AIB factory Purchasing Managers’ Index, or PMI, rose to 51.0 in June from 39.2 in May. Any reading above 50 indicates expansion in the sector.

New orders and output expanded for the first time since February and total new orders were boosted by the fastest rise in exports since April 2019.

Employment decreased for the fifth straight month, albeit at the slowest rate in four months.

The volume of outstanding works continues to decline sharply in June.

On the price front, the survey showed that inflationary pressure weakened in June. Input prices and output cost declined for the fourth straight month, though at weaker rates.

Manufacturers were more confident of the growth of output over the next 12 months as lockdown measures were eased in June.

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