Ireland’s manufacturing sector continued to expand at a solid pace in October, survey figures from Markit Economics showed Monday.
The seasonally adjusted Investec purchasing managers’ index fell slightly to 53.6 in October from 53.8 in September.
However, any reading above 50 indicates expansion in the sector. Moreover, business conditions have now strengthened in each of the past 29 months.
The rate of growth in manufacturing production eased for the third straight month in October. The latest rise was the weakest since February 2014.
In contrast, new orders rose at sharper rates in October. New export orders also grew at a substantial pace amid reports of higher new business from clients in the UK and US.
Manufacturing employment climbed further in October in response to higher output requirements. The rate of job creation was solid, but eased to the slowest since December 2013.
On the price front, input prices fell for the second consecutive month in October. This forced firms to decrease their selling prices for the fifth straight month.
The material has been provided by InstaForex Company – www.instaforex.com