Ireland PMI October 2021

Ireland

Ireland: Manufacturing PMI rises in October

November 1, 2021

The IHS Markit Manufacturing Purchasing Managers' Index (PMI) rose to 62.1 in October from September's 60.3. As such, the index remained entrenched above the 50-threshold and signaled a stronger improvement in business conditions from the previous month. October marked the seventh consecutive month of a 60+ reading, with the country having never previously breached that threshold.

The stronger reading was thanks to an acceleration of output growth as firms raced to cut down their backlogs, and a record lengthening of delivery times. Meanwhile, new orders growth slowed, while inventory purchases growth was rapid. Employment growth was steady from last month, and input and output inflation soared to record highs amid rising demand and supply chain pressures. Firms’ output expectations remained positive.

FocusEconomics Consensus Forecast panelists project fixed investment to contract 13.6% in 2022, which is up 0.8 percentage points from last month’s forecast. For 2023, the panel sees fixed investment expanding 6.5%.


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Ireland Manufacturing PMI October 2021 0

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


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