Ireland: Composite PMI improves in April
The S&P Global Composite Purchasing Managers’ Index (PMI) rose to 53.5 in April from March’s 52.8. Consequently, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in private sector operating conditions compared to the previous month.
The manufacturing PMI fell to 48.6 from 49.7 while the services PMI rose to 58.4 from 55.7. The deterioration in the manufacturing sector came as output and new orders declined. The improvement in the services sector came as output and new orders rose at a faster rate. Meanwhile, firms in both sectors continued to add to their labor forces. Looking at prices, in the manufacturing sector, input prices fell for the first time since June 2020, and output prices rose the least in 28 months; in the services sector, both input and output prices continued to increase. Finally, business sentiment fell in both sectors.