The fall in production levels in June was attributed to ongoing decreases in the number of new orders, according to the latest survey from AIBThe Irish manufacturing sector has recorded the sharpest fall in production since February 2021 as demand continues to weaken. This drop in production levels in June was attributed to ongoing falls in the number of new orders, according to the latest survey from AIB. “Irish manufacturing continued to be hampered by subdued demand, including in overseas markets,” AIB’s chief economist Oliver Mangan said. Pre-production inventory levels fell again last month as firms prepared for subdued demand. Irish manufacturers reduced employment levels for the first time in seven months, at the sharpest rate in almost three years.

Source: Irish Independent July 03, 2023 06:20 UTC