DUBLIN, Aug 2 (Reuters) – Irish manufacturing growth fell to an 18-month low in July as inflation continued to undermine demand, a survey confirmed on Tuesday.
The AIB S&P Global manufacturing Purchasing Managers’ Index (PMI) fell to 51.8 in July from 53.1 in June. That was down from an all-time excessive of 64.1 in May final yr.
The sub-indexes masking output and new orders each fell for the second month in a row due to weak demand, the survey’s authors stated.
“The AIB Irish Manufacturing PMI survey for July shows a continuing loss of momentum in the sector amidst a global slowdown in activity as demand weakens in the face of rising price pressures,” AIB’s chief economist Oliver Mangan stated.
(Writing by Conor Humphries; Editing by Toby Chopra)
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