Sunday August 9, 2020

May factory growth slowest since Brexit vote

Weaker demand and unwinding of Brexit stockpiling brought manufacturing index to lowest level since July 2016

4th June, 2019
Manufacturing output falls again. Pic: Getty

The Irish manufacturing sector marked six years of expansion last month, but growth was the slowest since the aftermath of the Brexit referendum in 2016.

The AIB manufacturing PMI, compiled by research group IHS Markit, recorded 50.4 in May, down from 52.5 in April and only just above the 50 growth mark.

Manufacturing output fell, also for the first time since July 2016, while new orders declined at the fastest rate in six years. Export sales also fell marginally,...

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