Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Irish manufacturing growth slips to 6-month low -PMI

Published 09/30/2021, 08:17 PM
Updated 09/30/2021, 08:23 PM
© Reuters. FILE PHOTO: A strawberry moon is seen over chimneys at the Guinness factory during sunset in Dublin, Ireland, June 27, 2018. REUTERS/Clodagh Kilcoyne

© Reuters. FILE PHOTO: A strawberry moon is seen over chimneys at the Guinness factory during sunset in Dublin, Ireland, June 27, 2018. REUTERS/Clodagh Kilcoyne

DUBLIN (Reuters) - Growth in Irish factory activity slipped to a six-month low in September but remained close to all-time highs with the sector showing signs of inflationary pressures, a survey showed on Friday.

The AIB IHS Markit manufacturing Purchasing Managers' Index (PMI) slipped to 60.3 in September from 62.8 in August and down from May's record reading of 64.1.

September's reading was the sixth-highest registered since the survey began in 1998 and the survey showed a "very strong rebound" in the sector was continuing, AIB chief economist Oliver Mangan said.

But it also showed signs that Ireland was subject to similar trends to the rest of Europe where shortages of raw materials, key inputs and labour were holding back manufacturing activity, Mangan said.

© Reuters. FILE PHOTO: A strawberry moon is seen over chimneys at the Guinness factory during sunset in Dublin, Ireland, June 27, 2018. REUTERS/Clodagh Kilcoyne

While sub-indices measuring output, new orders and employment all fell, input and output prices both hit record highs.

Difficulty hiring workers, order backlogs, supply chain delays and lengthening delivery times all contributed to inflationary pressures, Mangan said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.