Irish manufacturing growth slips to 6-month low -PMI

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DUBLIN, Oct 1 (Businesshala) – Growth in Irish factory activity slipped to a six-month low in September but remained close to an all-time high with the region showing signs of inflationary pressure, a survey showed on Friday. Gaya.

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The AIB IHS Markit Manufacturing Purchasing Managers’ Index (PMI) fell to 60.3 in September, down from 62.8 in August and down from May’s record 64.1.

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AIB’s chief economist Oliver Mangan said the September reading was the sixth highest recorded since the survey began in 1998, and the survey showed the sector was continuing a “very strong rebound”.

But it also indicated that Ireland was subject to similar trends as the rest of Europe, where shortages of raw materials, key inputs and labor were halting manufacturing activity, Mangan said.

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While sub-indices that measure output, new orders and employment all fell, both input and output prices hit record highs.

Mangan said difficulty in hiring workers, order backlogs, supply chain delays and lengthening of delivery times all contributed to inflationary pressures.

Reporting by Conor Humphries; Editing by Susan Fenton

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