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Ireland manufacturing growth eases in July

Ireland manufacturing growth eases in July

DUBLIN: Ireland’s manufacturing activity continued to expand strongly in July, though the rate of expansion eased since June, survey figures from IHS Markit showed Tuesday. The seasonally adjusted Investec Purchasing Managers’ Index, or PMI, dropped to 54.6 in July from June’s 23-month high of 56.0. However, any reading above 50 indicates expansion in the sector.

The rate of growth in new orders remained elevated in July despite easing slightly from a month earlier. Manufacturing production increased at the weakest rate in three months. Companies raised their workforce numbers in July, but the rate of job creation was the slowest in nine months. On the price front, the rate of input cost inflation was the slowest this year so far, while output prices also rose at a weaker pace.