01.12.202310:04:00UTC+00Irish Manufacturing Activity Stabilizes In November

Ireland's manufacturing activity signaled a stabilization in November amid rises in output, new orders, and employment, survey results from S&P Global showed on Friday.

The headline AIB Manufacturing Purchasing Managers' Index posted 50.0 in November, up from 48.2 in October.

A score above 50 indicates expansion, while any score below 50 indicates contraction in the sector.

Output grew at the fastest pace since June 2022, while new orders increased slightly in November.

Irish manufacturers signaled the signs of a gradual turnaround in customer demand and a subsequent rise in production requirements.

Nonetheless, new export sales fell further in November as lackluster global economic conditions constrained manufacturing order books.

Manufacturing employment increased for the fifth consecutive month, thanks to long-term business expansion plans and forthcoming new project starts.

On the price front, input prices fell slightly in November on the back of lower costs for raw materials. As a result, output charges posted a further decline.