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Supply Chain

Irish Manufacturing Ekes Out Modest Growth In September: PMI

Ireland's manufacturing sector growth picked up slightly in September, outperforming the wider euro zone, but new orders and new export orders contracted for the fourth month in a row, a survey showed on Monday.

The AIB S&P Global manufacturing Purchasing Managers' Index (PMI) inched up to 51.5 in September from 51.1 the previous month, hovering above the 50 mark that separates expansion from contraction.

New Orders Fall

An initial survey last week showed euro zone-wide manufacturing activity was shrinking in September.

"New orders, including export orders, fell for a fourth consecutive month, a worrying sign reflective of weakening demand in the face of rising price pressures," Oliver Mangan, chief economist, AIB said.

"There was only a marginal decline in output, though, as manufacturers continued to work to clear backlogs and rebuild stocks of finished goods," he said.

News by Reuters, edited by Donna Ahern, Checkout. For more supply chain stories, click here. Click subscribe to sign up for the Checkout print edition.

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