Ireland PMI September 2016

Ireland

Ireland: Irish Manufacturing PMI drops marginally in September

October 3, 2016

The Investec Manufacturing Purchasing Managers’ Index (PMI) edged down from 51.7 in August to 51.3 in September. The PMI still remains above the 50-threshold that separates expansion from contraction in the manufacturing sector, where it has been for 40 consecutive months.

September’s reading mainly reflected growth in new orders, albeit at a slower pace compared to the previous month. This was supported by improved demand from the overseas market and contributed to a rise in manufacturing output. Backlogs of work declined as Irish manufacturers used spare resources to work on existing orders. Employment growth stagnated in September, putting an end to a 39-month streak of job creation. The flat growth in staffing reflected a subdued volume of new orders and the non-replacement of departing staff. Regarding price developments, input and output prices rose, with the latter increasing at the fastest rate since September 2012 due to the pass-through effect of higher input prices and improving pricing power.

The survey report stated, “all in all, [this] does little to change our narrative from the previous month, namely that working capital management (joined in September by a more cautious approach to hiring) points to well-founded caution on the part of Irish manufacturers as we head into the year end.”

FocusEconomics Consensus Forecast panelists expect investment to expand 3.3% in 2016, which is down 0.8 percentage points from last month’s forecast. For 2017, the panel sees investment rising 6.5%.


Author: Jean-Philippe Pourcelot, Economist

Sample Report

Looking for forecasts related to PMI in Ireland? Download a sample report now.

Download

Ireland PMI Chart


Ireland Manufacturing PMI September 2016

Note: Markit Purchasing Managers’ Index. Readings above 50 indicate an expansion in the manufacturing sector while readings below 50 point to a contraction.
Source: Markit.


Ireland Economic News

  • Ireland: Services PMI rises to four-month high in May

    June 6, 2018

    The Investec services Purchasing Managers’ Index (PMI) climbed to a four-month high of 59.3 in May, up from 58.4 in April, thanks to a buoyant economic landscape and more favorable weather conditions.

    Read more

  • Ireland: Industrial production records strong expansion in April

    June 5, 2018

    The highly volatile Irish manufacturing industries production index rose 9.2% over the previous month in seasonally-adjusted terms in April, contrasting a 7.4% month-on-month contraction in March.

    Read more

  • Ireland: Consumer sentiment improves in May

    June 5, 2018

    The KBC Bank Ireland/ESRI consumer sentiment index climbed to 106.7 points in May, up from 104.0 points in April, recovering two-thirds of the drop in the previous month.

    Read more

  • Ireland: Manufacturing PMI inches up in May

    June 1, 2018

    The Investec manufacturing Purchasing Managers’ Index (PMI) inched up to 55.4 points in May from 55.3 points in April, reflecting improved business conditions in the manufacturing sector.

    Read more

  • Ireland: Consumer sentiment deteriorates in April

    May 11, 2018

    The KBC Bank Ireland/ESRI consumer sentiment index slid to a five-month low of 104.0 points in April from 108.1 points in March, continuing a “see-saw pattern” of improving confidence in one month followed by weaker confidence in the next month in a rapidly changing and uncertain economic setting due to the threat of a potential trade war, along with Brexit. April’s loss of consumer confidence reflected increased strains on household finances, underpinned by higher energy costs and restrained wage growth.

    Read more

More news

Search form