| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 Asia Economy


How to use our RSS feed

Follow Finfacts on Twitter

Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.


Finfacts is Ireland's leading business information site and you are in its business news section.


Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News


Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News




Content Management by interactivetools.com.

News : Irish Economy Last Updated: Mar 4, 2014 - 7:50 AM

Irish Economy 2014: Manufacturing PMI up again, excluding patent drug cliff falls
By Michael Hennigan, Finfacts founder and editor
Mar 3, 2014 - 6:24 AM

Email this article
 Printer friendly page

Irish Economy 2014; The Irish manufacturing PMI sector recorded a further solid improvement in business conditions in February. The rate of growth in production eased, but new orders increased at a faster pace, leading firms to raise their rate of job creation. However, the impact of the drugs patent cliff on output has not been reflected in the survey data through 2013 when official data showed that industrial production fell.

Pharmaceutical exports account for about 50% of Irish merchandise exports.

The seasonally adjusted Investec purchasing managers' index (PMI) - - an indicator designed to provide a single-figure measure of the health of the manufacturing industry - - posted 52.9 in February, up fractionally from a reading of 52.8 in January. This represented a further solid improvement in operating conditions in the sector, and the ninth in as many months. Input cost inflation remained broadly stable, while manufacturers lowered their output prices for the second month running.

Although Irish manufacturing production rose again in February, the rate of growth eased for the second consecutive month and was the slowest since June 2013. This was despite the rate of expansion in new orders picking up from that seen at the start of the year.

Those firms that recorded a rise in new orders generally mentioned improving client demand. Rising new business from the UK and other European markets was reported by firms as having contributed to an eighth successive monthly increase in new export orders.

Manufacturers partly used inventories to help fulfil new orders in February, leading to reductions in both stocks of finished goods and backlogs of work. Moreover, in each case rates of depletion accelerated from the previous month.

Employment increased for the ninth consecutive month amid reports of rising production requirements. The rate of job creation was solid, having quickened for the second successive month to the strongest since last October.

The rate of input cost inflation was broadly unchanged and has remained virtually stable over the past five months. Some panellists mentioned increased timber prices. In contrast to the rise in input costs, output prices decreased for the second month running amid strong competition. Moreover, the rate of decline quickened from that seen in January.

Panellists reported that recent stormy weather had contributed to longer suppliers' delivery times, although the latest deterioration was the weakest in five months.

Firms raised their purchasing activity in February, following a fall in January. Panellists reported that the increase was part of efforts to build inventories. Despite this, stocks of purchases continued to fall at a solid pace. Pre-production inventorie

Check out our subscription service, Finfacts Premium, at a low annual charge of €25.

Related Articles
Related Articles

© Copyright 2011 by Finfacts.com

Top of Page

Irish Economy
Latest Headlines
Finfacts launches new news site
Irish Farmers & Milk Prices: 'Shackles' off in April; Demanding safety-net in August
Irish pension managed funds returns at over 12% year-to-date in 2015
Irish chartered accountants' salary packages surge 13% in 12 months
Irish services PMI fastest rate since late 2006; Official data up only 2.4% in 12 months
Irish Economy: Tax €893m above target in year to July — €653m from corporation tax
Fact and Fiction: Time to review Ireland's economic statistics?
Irish M&A deals H1 2015: Dutch or UK firm acquires Irish firm for €32.6bn - they are both American
Irish manufacturing PMI strong in July
Irish Economy: Fall in GNP in Q1 2015; GDP rises
Irish Economy 2015: Central Bank lauds strong recovery; Time to start paying down debt
Irish Budget 2016: Ibec demands 20 tax cuts, spending and investment rises
Low pay in Ireland; Lowest social security & corporate taxes in Europe
Ireland vs Greece: Enda Kenny's false claims on growth, taxes and debt
Irish standard of living in 2014 below Euro Area average, Italian level; Prices 5th highest in EU28
Irish goods exports rose a record 30% in April - due to fake tax-related transactions
Mexican tall ship to sail into Dublin on June 17th
Irish industrial production up 20% in first four months of 2015; Construction down 2.6% in first quarter
Irish Economy 2015: ESRI slams return to boom-time pro-cyclical fiscal policy
Irish pension fund returns in average range 1.6% - 1.8% in May 2015
Irish service sector PMI remains strong; Tax avoidance clouds data
Ireland: Official unemployment rate at 9.8% in May; Broad rate at 19% — 440,000 people
Ireland: Fiscal Council warns of dodgy forecasts, no plan; OECD warns of new property bubble
Irish Public Finances: Tax revenue in first five months of 2015 €734m ahead of target
No simple measure of economic progress in Ireland: GDP & GNP defective
Irish manufacturing PMI rises in May; Production up unbelievable 45% in year to March!
ESRI says data volatility hinders Irish economic forecasting; Tax avoidance taboo cause
Ireland at 16 in international competitiveness ranking; US, Singapore and Hong Kong on top
Irish Economy 2015: Sectors to add 200,000 jobs?; Broad jobless rate at 19%
Irish Export Performance: Myths and reality - Ireland is a poor exporter
Irish Economy: 41,300 jobs added in 12 months to Q1 2015 - Construction up 19,600
China-Ireland: Economic relationship on a slow burn
Estonia, Austria, France, Ireland head global alcohol rankings
Irish Exchequer Returns: Tax receipts under target in April but ahead in year
Irish service sector PMI rose in April
Irish manufacturing PMI remained strong in April- includes overseas manufacturing
Irish Live Register + 90,000 activation scheme numbers at 439,000 in April
Ireland: Coalition drops 2018 full-employment target
Ireland Spring Statement: Noonan promises 200,000 net new jobs by 2018
Irish Economy 2015: Retail sales volume up 1.4% in month of March