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Ireland Manufacturing Growth Improves In February

Ireland's manufacturing sector expanded at a slightly faster pace in February, survey data from IHS Markit showed on Monday.

The seasonally adjusted AIB factory Purchasing Managers' Index, or PMI, rose to 52.0 in February from 51.8 in January. Any reading above 50.0 indicates expansion in the sector.

The volume of new work declined further in February. That said, the rate of decline in total new orders and new export business eased since January.

The post-Brexit trading environment was a main factor in weakening the demand, the survey reported.

Employment rose for the fifth straight month in February. Output declined sharply and the volume of outstanding business continued to decline.

The volume of input orders decreased in February and suppliers' delivery time lengthened.

Input price inflation rose to the highest in four years and output prices grew the most since March 2011.

Firms remained optimistic about the 12-month outlook for production and expect the roll-out of vaccines to reduce the economic impact from Covid-19.

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