Manufacturing grows in February sees slowest pace in 11 months – PMI
The country’s manufacturing sector expanded at the slowest pace in 11 months in February as growth in output, new orders and employment all eased, a survey showed today.
But growth still remained at an “elevated level” in historical terms and those surveyed expressed confidence about their output over the coming 12 months.
The AIB IHS Markit manufacturing Purchasing Managers’ Index (PMI) slipped to 57.8 in February from 59.4 the previous month, remaining well above the 50 mark that indicates a rise in overall activity.
Output saw its slowest growth in 11 months while new orders grew at their weakest pace since November.
However, backlogs of work increased at the third-strongest pace on record, as supply and labour shortages constrained production.
Output and input price inflation accelerated to their second- and third-fastest rates on record, AIB said.