Irish manufacturing slows sharply as inflation pressures mount at near record pace 

AIB Purchasing Managers’ Index found that firms are hiking prices as input costs increased

The expansion of output from Irish factories slowed dramatically in July, joining manufacturing in many parts of the world as inflationary pressure continue to grow at near record pace, the latest major industry survey shows.

The results of the AIB Purchasing Managers’ Index and similar surveys published today for almost every economy in the world are being closely watched for evidence that the forces of recession may be building for many major economies.