The country’s manufacturing sector grew at its fastest pace in four years in May as the Middle East conflict triggered stock-building and front-loading of orders, according to a new survey published today.<\/p>\n
The AIB Ireland Manufacturing Purchasing Managers’ Index (PMI) rose to 55.9 in May from 54.9 in April, marking the highest level since May 2022.<\/p>\n
Any reading above 50 indicates growth in activity.<\/p>\n
The expansion was due to “sustained gains in output and new export orders, reflecting a front-loading of demand and stock building due to the Middle East conflict,” with improving demand from Britain, the US and Asia, AIB’s chief economist David McNamara said.<\/p>\n
Purchasing activity by firms rose at the fastest pace since February 2022, in part driven by front-running of purchases ahead of expected price hikes by suppliers, he added.<\/p>\n
Manufacturers’ assessment of the outlook for activity levels over the coming year improved, with around 47% predicting an increase in output, while only 10% forecast a reduction, the survey said.<\/p>\n","protected":false},"excerpt":{"rendered":"The country’s manufacturing sector grew at its fastest pace in four years in May as the Middle East…\n","protected":false},"author":2,"featured_media":617584,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":["post-617583","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/617583","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=617583"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/617583\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/617584"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=617583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=617583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=617583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}