PMI up as new orders increase

IRISH manufacturers reported slightly improved conditions last month, according to the latest survey of purchasing managers by NCB Stockbrokers.

The monthly Purchasing Managers’ Index (PMI) registered 50.7 in June, up from the 50.3 recorded the previous month and comfortably ahead of the 50.0 watershed that marks the difference between positive and negative trends.

The level of new business was higher but there were negative signals on the jobs front for manufacturing, where employment fell for the second month in a row. Output growth levels also eased during the month.