Irish manufacturing hit in October as exports weaken further

The survey showed new export orders falling sharply, “with manufacturers mostly citing weak demand fell elsewhere in Europe”

The contraction in Irish manufacturing deepened in October, a major survey has confirmed, as the slowdown in the world economy sparked by faltering consumer demand and interest rates hikes continue to weigh on output.

The latest AIB Purchasing Managers’ Index of Irish manufacturing showed a “weak picture” with exports and order backlogs falling and leaving employment levels “stagnant” at Irish factories in the month.