Ireland: Manufacturing PMI closes 2014 on a strong note
January 2, 2015
The Investec manufacturing Purchasing Managers’ Index (PMI) ticked up from 56.2 in November to 56.9 in December. The index remains comfortably above the 50-threshold that indicates expansion in the manufacturing sector.
December’s print was driven by ongoing substantial rises in output, new orders, and employment. Manufacturing output was the highest since August and new orders were boosted to the strongest level in three months by strong external demand. New export orders expanded the most since March 2010. The strong pace of employment gains among manufacturers continued in December amid high demand and positive growth expectations.
According to the survey report, “the strong finish to 2014 is particularly welcome given the recent rise in global concerns. We expect 2015 to be another year of progress for the manufacturing sector, but with the international backdrop looking like it will get worse before it gets better, conditions may not prove to be as favourable as they were in 2014.”
Author: Carl Kelly, Economist