Ireland Manufacturing Sector Expands For First Time Since May

Ireland's manufacturing sector returned to expansion territory in October for the first time since May, survey data from IHS Markit showed Friday.

The factory Purchasing Managers' Index climbed to 50.7 from 48.7 in September. A score above 50 indicates expansion.

After five consecutive months of decline, new orders expanded in October despite a fall in export sales. Output expanded in line with a pick-up in customer demand.

Employment improved from September's stagnation, rising moderately in October.

On the price front, the survey showed that input cost inflation increased from September. In response to higher input costs, manufacturers raised their selling prices for the first time in four months.

Sentiment among Irish manufacturers improved from September's series record low in October, nonetheless was historically subdued, amid reports of Brexit uncertainty.

"Overall, while the improvement in the manufacturing PMI in October is welcome, it remains at a weak level, consistent with very modest growth in the sector as the slowdown in the global economy and Brexit uncertainty continue to act as headwinds," Oliver Mangan, AIB chief economist, said.

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