Supply Chain

Irish Manufacturing Activity Stable In May – PMI

By Reuters
Irish Manufacturing Activity Stable In May – PMI

Ireland’s manufacturing sector steadied in May after contracting in April although demand remained subdued, a survey showed on Tuesday.

The AIB S&P Global Manufacturing Purchasing Managers’ Index (PMI) for Ireland was 49.8 in May.

This was up from April’s nine-month low of 47.6.

50 marks the difference between growth and contraction, with anything above that number signifying growth and anything below showing contraction.

Respondents to the survey said economic conditions remain sluggish, with demand from domestic and international customers subdued.

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Still, production volumes and incoming new work only fell marginally.

There was a solid rise in staffing levels, which reflected increased confidence in market conditions for the coming months.

The chief economist for AIB David McNamara said there was anecdotal evidence that weaker demand from key trading partners, including the UK, was behind the latest fall in activity.

Read More: Irish Manufacturing Contracts In April – PMI

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