Irish manufacturing rebounds in February, PMI showsMuireann DuffyIrish manufacturing expanded in February for only the third month in the past year and at the fastest pace since mid-2022 following a jump in output and a rebound in new orders, a survey showed on Friday. The AIB S&P Global manufacturing Purchasing Managers' Index (PMI) for Ireland rose to 52.2 last month from 49.5 in January, having sat marginally below the 50 mark that separates expansion from contraction for most of the last 16 months. The marked improvement in February was driven by a sharp increase in the sub-index measuring output to 54.5 from 50.9 in January, with employment also growing alongside new orders. However, respondents also faced longer delivery times and higher input prices due to the continued disruption to shipping routes in the Red Sea. Data on Thursday showed that Ireland's annual inflation rate fell to a two-and-a-half year low of 2.2 per cent last month.

Source: Irish Independent March 01, 2024 15:35 UTC