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Ireland Manufacturing Growth Eases In June

Ireland's manufacturing sector growth weakened to the lowest in sixteen months in June as demand and output declined amid rising inflationary pressures, survey results from S&P Global showed Friday.

The AIB Ireland manufacturing Purchasing Managers' Index fell to 53.1 in June from 56.4 in May.

Any reading above 50.0 indicates expansion in the sector. This was the slowest rate of expansion since February 2021.

The reduction in new orders ended in a fifteen month sequence in June and new export orders declined for the first time in sixteen months.

Output dropped for the first time since February 2021 and backlogs of work fell for the second straight month in June and at the fastest pace since January last year.

Cost pressures increased in June and selling prices rose rapidly, although the pace of inflation eased sharply from the previous month.

Purchasing activity increased at the weakest pace in the current sixteen-month sequence of expansion.

Suppliers' delivery time lengthened in June and stocks of finished goods declined for the twelfth month in a row.

Firms remained confident that output will increase for the coming 12 months, with the hope for improvement in new orders.

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