Ireland’s manufacturing sector growth improved further in September on marked growth of new business, while the rate of expansion in production slowed to a 19-month low, survey figures from Markit Economics showed Thursday.
The seasonally adjusted Investec purchasing managers’ index rose marginally to to 53.8 in September from 53.6 in August. Any reading above 50 indicates expansion in the sector. However, the latest improvement was still weaker than those seen earlier in the year.
Marked increase in new orders resulted overall improvement in operating conditions during September. New export orders also grew sharply and at a faster pace than in August. Panelists mentioned the UK as a key source of new business.
At the same time, the growth in output slowed for the second straight month in September to the weakest since February 2014.
Manufacturing employment increased for the twenty-eighth successive month in September owing to rising workloads.
On the price front, input prices dropped for the first time in seven months in September at a solid pace, due to lower prices for oil-related items, food and steel. Selling prices also fell during the month.
The material has been provided by InstaForex Company – www.instaforex.com