Ireland: Manufacturing conditions improve in November
The AIB manufacturing Purchasing Managers’ Index (PMI) increased to 52.2 in November from October’s 50.3. As a result, the index moved further above the 50-threshold, indicating an improvement in Irish business conditions compared to the previous month.
November’s reading chiefly reflected increasing production boosted by the first rise in new orders in three months amid improving demand conditions despite Covid-19 restrictions. Moreover, firms raised employment as they were more optimistic over the future outlook for output, with expectations the strongest in ten months. On the price front, input price inflation rose at the fastest clip since February 2019 amid stronger demand for raw materials. As such, output charges also rose compared to the previous month.