Ireland PMI November 2016


Ireland: Irish Manufacturing PMI rises to eight-month high in November

December 1, 2016

The Investec Manufacturing Purchasing Managers’ Index (PMI) edged up from 52.1 in October to 53.7 in November, taking it further above the 50-threshold that separates expansion from contraction in the manufacturing sector, where it has been for 42 consecutive months.

November’s print reflected sharper increases in output, new orders and employment. Output rose on the back of higher new orders. New business rose for the fourth month running, achieving the fastest increase in eight months owing to higher overseas demand. Backlogs of work increased for two months running and logged the sharpest expansion since the series began in 2002. Irish manufacturing firms increased their staffing levels in response to increased demand. Regarding price developments, both input costs and output prices rose.

The survey report stated, “the real highlight was a marked improvement in the New Export Orders component, with panelists reporting increased demand from customers in Asia, Europe and the US.”

FocusEconomics Consensus Forecast panelists expect investment to expand 6.9% in 2017, which is down 0.2 percentage points from last month’s forecast. For 2018, the panel sees investment rising 5.0%.

Author: Jean-Philippe Pourcelot, Economist

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Ireland PMI Chart

Ireland Manufacturing PMI November 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.

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