Stronger exports support Irish manufacturing in January – PMI
A cargo ship loading containers is seen at Dublin Port beside Poolbeg Generating Station owned by the Electricity Supply Board, in Dublin, Ireland, February 11, 2022. REUTERS/Clodagh Kilcoyne/File Photo
DUBLIN (Reuters) – Irish manufacturing activity declined at a slower rate in January as export orders rose at their fastest pace in nearly two years, a survey showed on Thursday.
The AIB S&P Global manufacturing Purchasing Managers’ Index (PMI) for Ireland improved to 49.5 in January from 48.9 in December.
In November it was 50, the level that separates expansion from contraction. The index has been marginally below 50 for 11 of the last 15 months.
January saw a rise in manufacturing output, export orders and employment alongside marked destocking, the survey’s authors said. But new orders fell again on weaker domestic demand.
Higher demand in Europe and Asia were cited as factors in the rebound in exports.