Irish manufacturing activity shrinks again in Dec – PMI

DUBLIN (Reuters) – Factory activity in Ireland contracted for the second month in a row in December, at the same pace as in November. A sharp drop in new orders again eased the decline in output slightly, a survey showed on Tuesday.

The AIB S&P Global Manufacturing Purchasing Managers Index (PMI) remained unchanged in December after falling from 51.4 in October to 48.7 in November. A reading below the 50 mark indicates contraction in activity.

Total orders fell to 43.2, compared with 60.9 nine months before Russia’s war with Ukraine began, despite a slight improvement in foreign orders. Excluding his initial COVID-19 lockdown, December’s figures were the lowest since 2009.

Nonetheless, Irish factories have proven more resilient to the Europe-wide cost of living crisis, being the only Eurozone member where manufacturing continued to grow two months ago. did.

Pressure on supply chains eased further in December, with only 12% of companies reporting longer delivery times for their suppliers. This marked the lowest rate of input price inflation since February 2021.

Input prices are still rising and output price inflation remains high and accelerated in December.

Recent data showed Ireland’s domestic economy contracted 1.1% quarter-on-quarter between July and September, but the Treasury expects 7.7% growth for 2022 as a whole, after a rapid expansion earlier this year. I am predicting.

Reported by Padraic Halpin.Edited by Hugh Lawson

Our standards: Thomson Reuters Trust Principles.

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