Irish manufacturing sharply down in April as foreign orders slacken

The headline result in April's AIB Irish factory survey was at 48.6, down from 49.7 in February.

Irish factories reported that the prices they paid for raw materials eased in April, the first monthly fall since the early summer of three years ago. File picture.

Output from Irish manufacturing contracted sharply last month as weakening foreign orders amid a slowdown in European and US economies weighed on the many export-led multinationals located here, the latest survey of purchasing managers here suggests.

The AIB Purchasing Managers' Index had better news, however, on the prospects for inflation, as Irish factories reported that the prices they paid for raw materials eased in April, the first monthly fall since the early summer of three years ago, while they increased their product prices by the lowest rate in 28 months.