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Manufacturing

Ireland the only eurozone country to see manufacturing increase in October

Of the 17 Eurozone members, only one country saw an increase in manufacturing output in October… and it was us.

IRELAND WAS the only one of the 17 Eurozone member states to see an increase in manufacturing output in October.

Reuters points out that Ireland was the only economy of the 17 using the single currency that showed an increase in manufacturing output last month.

Figures compiled by analytics firm Markit Economics showed that the pan-European Manufacturing Purchasing Manager’s Index (PMI) – a measure of the level of orders placed with manufacturers – for October had fallen to 45.4, having been at 46.1 in September.

Figures above 50 represent an economy in which the number of orders have grown, while those below 50 indicate a contraction.

Similarly, a European index of manufacturing output sank from 45.9 to 45.0.

Ireland’s PMI rose to 52.1 in October, having been at 51.8 in September – marking the fourth month in succession where Irish orders have increased.

By comparison, Germany’s PMI plummeted from 47.4 to 46.0. France’s PMI increased by one point, to 43.7, but remains well under the 50 benchmark. Spain saw a one-point drop to 43.5, while Italian manufacturing crept downward only slightly.

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