The AIB Ireland Manufacturing PMI® pointed to worsening business conditions as 2023 drew to a close, representing a setback after the stabilisation seen during November. Overstocked customers and caution regarding the near-term economic outlook remained headwinds to new order intakes in December. Irish manufacturers also reduced their own stocks of purchases at the fastest pace since October 2020. On a more encouraging note, output expectations for the year ahead edged up to a three-month high.