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Ireland's manufacturing sector saw its growth slow slightly April, data showed on Tuesday, but remains at elevated levels.
The headline AIB Ireland Manufacturing purchasing managers' index eased to 59.1 in April, from 59.4 in March. While remaining above the no-change mark of 50.0, the reading indicates growth slowed last month.
AIB noted supply constraints remained a ‘key factor’ in limiting growth, although delays were still less widespread than in 2021.
‘Input price inflation eased from March's record but was still among the highest ever, leading to a record rise in output prices,’ AIB added.
AIB Chief Economist Oliver Mangan said, despite the drop, the PMI remained at a ‘very high level’.
AIB Chief Economist Oliver Mangan said: ‘The AIB Irish Manufacturing PMI survey for April shows continuing very strong growth in the sector, a trend that has been in place for over a year now. The Irish PMI is well above the flash April index readings for the Eurozone and UK, which both stood at 55.3.
‘The Irish data for April paint a very similar picture to March, with strong growth in orders, output and employment, but less confidence on the outlook for business activity and continuing very elevated inflationary pressures. April saw a slight moderation in the pace of growth in new orders and output, partly due to uncertainty and rising prices weighing on demand. However, employment registered its biggest rise in ten months, reflecting the current strength of business activity.’
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