Ireland PMI October 2020

Ireland

Ireland: Manufacturing PMI edges up in October

November 2, 2020

The AIB manufacturing Purchasing Managers’ Index (PMI) ticked up to 50.3 in October from 50.0 in September. As such, the index placed slightly above the 50-threshold, indicating a marginal improvement in Irish business conditions at the start of the final quarter of the year.

October’s reading largely came on the back of broadly stable manufacturing output, after having declined in the previous month. However, new orders contracted, albeit at a softer pace than in September, amid weakening demand conditions. More positively, firms raised employment, marking only the third round of job creation in the past year, likely owing to optimism with regard to future output. On the price front, input cost inflation slowed from the prior month, while firms raised their output charges for the second time in the past eight months. Lastly, although business sentiment remained in positive territory, it was the weakest in five months.

FocusEconomics Consensus Forecast panelists project fixed investment to contract 5.8% in 2021, which is down 0.2 percentage points from last month’s forecast. For 2022, the panel sees fixed investment growth of 3.7%.


Author:, Economist

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Ireland Manufacturing PMI October 20 20

Note: Markit Purchasing Managers’ Index. Readings above 50 indicate an overall increase compared to the previous month, and below 50 an overall decrease.
Source: IHS Markit, AIB


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