Stronger export sales boost manufacturing production in January
Manufacturing output rose to the greatest extent since May 2022, albeit only marginally, accordingly to the latest AIB Ireland Manufacturing PMI®. Production growth was supported by an increase in new work from abroad, alongside efforts to clear backlogs.
Service sector growth slows to near-three year low
The first batch of AIB PMI® survey data for 2024 signalled a loss of momentum in Irish service sector activity, albeit still extending the current growth sequence that began in March 2021. Rates of expansion in total activity and new business both slowed on the month, with the former rising at the weakest pace in the current upturn.
Listen to the latest economic updates with Chief Economist David McNamara and Treasury’s Jane Kavanagh in a new episode of AIB's Market Talk. This week the team look at the mixed outlook in the January AIB Ireland Manufacturing and Services Purchase Managers Index Reports.
