Ireland's manufacturing activity showed a renewed downturn in September amid weaker demand conditions, especially in export sales, survey results from S&P Global showed Monday.
The AIB Ireland Manufacturing Purchasing Managers' Index dropped slightly to 49.6 in September from 50.8 in August. Any score below 50 indicates contraction in the sector.
Data for September showed a slight decline in output volumes across the manufacturing sector as production times were modified to reflect weak demand trends.
New orders fell at the fastest pace this year so far, as destocking among clients and fragile global economic conditions had a negative impact on demand. The survey respondents also reported lacklustre demand in key export markets, especially the UK and euro area.
Backlogs of work continued to fall sharply in September, with the result of a combination of softer order books and improving supply conditions.
The rate of job creation across the Irish manufacturing sector eased slightly from August's six-month high. Manufacturers remain more upbeat about their expected growth prospects over the next year than seen on average in the first half of 2023.
