Irish manufacturing contracts in March as costs continue to rise

The latest AIB Manufacturing Purchasing Managers’ Index also showed that factories were hit by widespread increases in costs

The PMI survey showed output and new orders contracted at Irish factories last month amid subdued demand at home and from exports

Irish manufacturing activity contracted last month, as demand slowed and input costs accelerated.

The latest AIB Manufacturing Purchasing Managers’ Index (PMI) also showed that factories were hit by higher transport costs, rising commodity prices, as well as by stronger wage pressures that all added up to a “robust increase” in cost burdens in March.