Irish manufacturing growth slows amid sluggish demand

AIB's purchasing managers index shows the slowest upturn in overall manufacturing conditions since the start of the year

Respondents to AIB's latest PMI cited weakness in European export markets as the key driver of the fall in export orders.

Irish manufacturing growth continued to slow in October with the month’s purchasing managers index (PMI) showing the slowest upturn in overall manufacturing conditions since the start of the year on the back of sluggish demand conditions and lower backlogs of work.

The manufacturing PMI had a reading of 50.9 during October, down from the 51.8 recorded in September. The PMI is a composite single-figure indicator of manufacturing performance. It is derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases.