Irlanda PMI Industrial

The AIB Ireland Manufacturing PMI rose to 51.5 in October 2024 from 49.4 in September, marking the fastest expansion in factory activity since February due to renewed increases in output and new orders. Although modest, the rise in new orders was the strongest in nearly two and a half years, despite foreign demand remaining subdued. As a result, purchasing activity increased to the fastest growth since May 2022, while employment continued to decline and backlogs of work grew for the first time in two and a half years. Meanwhile, delivery times lengthened for the second consecutive month, reaching their highest level in 23 months. On the pricing front, input cost inflation eased to a four-month low, while output cost inflation slowed slightly but remained the second-highest since April 2023. Finally, business sentiment improved to its highest level in 2024, supported by more favorable market conditions and hopes for a sustained improvement in the broader economy.