Manufacturing activity rebounded sharply back into growth in June as lockdown measures were lifted, exports grew and expectations for production improved to a four-month high. It is derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases. It has returned to broadly where it was in January (51.4) and February (51.2), indicating a modest overall improvement in manufacturing business conditions. That said, the respective indices all remained weak relative to their long-run averages and manufacturers continued to shed staff at a marked – albeit slower – rate. Although new work and output both increased in June, the volume of outstanding business at manufacturers continued to decline sharply.

Source: The Irish Times July 01, 2020 03:56 UTC