| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

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

Finfacts changes from 2015


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

Global Cost of Living

Irish Tax - Income/Corporate




Content Management by interactivetools.com.

News : Irish Economy Last Updated: Feb 2, 2015 - 7:50 AM

Irish manufacturing PMI rises into 2015; May include overseas "contract" bookings
By Michael Hennigan, Finfacts founder and editor
Feb 2, 2015 - 7:47 AM

Email this article
 Printer friendly page

Further growth in the Irish manufacturing sector was recorded at the start of 2015 as client demand continued to improve. Both output and new orders rose sharply, albeit at slower rates than in December. Falling oil prices led to a solid reduction in input costs, with firms passing these declines on to customers by way of lower output prices.

However, this survey as with the CSO's industrial production data maybe impacted by a jump in tax avoidance- related bookings of foreign manufacturing in Ireland by pharmaceutical firms taht was evident in 2014

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 55.1 in January, signalling a marked improvement in business conditions at the start of the year. That said, the reading was down from 56.9 in December, and the lowest since May 2014.

Manufacturing production rose for the twentieth month in a row during January. Although slowing from the previous month, the rate of expansion remained sharp. Panellists reported that higher new orders and work on new products had helped lead to an increase in output.

Overall new business continued to increase at a sharp pace amid reports of rising client demand. A further rise in new export orders was registered, with panellists indicating that the UK had been a particular source of new business.

Markit said that backlogs of work were broadly unchanged in January, following a solid decline in the previous month. Meanwhile, employment rose for the twentieth consecutive month as firms took on extra staff in response to higher new orders and expectations of further growth in coming months. Although remaining solid, the rate of job creation was the slowest since July 2014.

The recent fall in the price of oil fed through to the Irish manufacturing sector in January, with lower fuel costs mentioned by a number of respondents. Input prices decreased at a solid pace, ending a two-month sequence of inflation. The drop in input costs led to a reduction in output prices, which fell for the fifth time in the past six months.

Suppliers’ delivery times lengthened again in January amid reports from panellists of strong demand for inputs and weather-related delays.

Input buying at manufacturing firms has increased throughout the past year, and the latest rise was marked despite being the weakest in eight months. Where input buying increased, this was mainly in response to higher new orders.

Despite ongoing growth of purchasing activity, pre-production inventories decreased for the first time since August. Stocks of finished goods also fell in January, the second successive month in which that has been the case.

Related Articles

© Copyright 2015 by Finfacts.ie

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