Ireland: Composite PMI improves in November
The AIB Ireland Composite Purchasing Managers’ Index (PMI) rose to 52.3 in November from October’s 49.7. As such, the index rose above the 50.0 no-change mark, signaling an improvement in private sector operating conditions from the previous month.
Looking at a breakdown by sector, the AIB Ireland Manufacturing Purchasing Managers’ Index (PMI) rose to 50.0 in November from October’s 48.2. Lastly, AIB Ireland Services Purchasing Managers’ Index (PMI) rose to 54.2 in November from October’s 52.6.
Output, employment and new orders rose in both sectors. Looking across both sectors as a whole, input and output inflation fell. Finally, while business sentiment rose in the services sector, it fell in the manufacturing sector.
Despite the uptick, the composite PMI remains lower in Q4 so far on average compared to Q3, boding poorly for economic activity in the quarter.