October 1, 2018 / 5:05 AM / a month ago

Irish manufacturing growth falls back in September - PMI

DUBLIN (Reuters) - Ireland’s manufacturing sector gave up some momentum in September as the rate of growth of new orders moderated, a survey showed on Monday.

Ireland’s Manufacturing Purchasing Managers’ Index eased slightly to 56.3 from 57.5 in August. The September level matches that of July and extends a run above the 50 mark separating growth from contraction to 64 months.

The Irish economy is set to be the best performing in the European Union this year for the fifth year in a row.

Although growing at a slower pace, new orders expanded also expanded for the 26th successive month in September, leading to a rise in output and higher job creation.

The sub-index measuring employment increased to 56.7 from 53.4 a month earlier, the highest level since February.

“The main highlight from the latest PMI survey is a sharp pick-up in the rate of job creation, with employment increasing as firms responded to higher workloads and looked to expand capacity,” said Andrew Harker, Associate Director at IHS Markit.

“Irish firms continue to be able to generate new business at a rapid rate.”

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