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Ireland PMI June 2022

Ireland: Manufacturing PMI falls in June

The AIB Manufacturing Purchasing Managers’ Index (PMI) came in at 53.1 in June, down from May’s 56.4. June’s result marked the weakest reading since February 2021. As a result, the index remained above the 50.0 no-change mark, pointing to a moderating improvement in business conditions from the previous month.

New orders fell for the first time in 16 months, hampered by rising prices, which have been stoked by Brexit and the war in Ukraine. Meanwhile, output also fell—for the first time since February 2021—dented by supply bottlenecks, with input inflation remaining higher than any rate seen before the pandemic. More positively, businesses continued to take on new workers, with the rate of job creation remaining strong.

AIB’s Oliver Mangan commented on the business outlook:

“In terms of the 12-month outlook for activity, sentiment remained positive and has been stable for the past three months. However, some firms expressed concerns about the impact of rising prices on consumer demand.”

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