DUBLIN, March 1 (Reuters) - Irish manufacturing activity
grew at a faster rate in February after new orders increased for
the first time since last May, further boosting confidence in
the sector, a survey showed on Wednesday.
The AIB S&P Global manufacturing Purchasing Managers' Index
(PMI) for Ireland rose to 51.3 last month from 50.1 in January,
having briefly dropped under the 50 mark that separates
expansion from contraction in November and December.
Irish factories and the wider economy have proven more
resilient to the cost-of-living crisis. The return to growth
levels seen in the third quarter of last year compared to
January flash readings of 48.5 and 49.2 for the euro zone and
neighbouring UK.
The survey's authors said that the upturn in new orders in
Ireland last month was linked to a relative strengthening in
underlying demand conditions and that a separate measure of
confidence in the sector was the most pronounced in a year.
The rates of input cost and output price inflation also fell
to 26- and 23-month lows respectively.
Ireland's finance minister said last week that inflation is
expected to average between 4% and 5% across 2023, lower than
initially thought, with a flatlining domestic economy set to
return to growth from the second quarter of this year.
(Reporting by Padraic Halpin; Editing by Susan Fenton)
Messaging: padraic.halpin.thomsonreuters.com@reuters.net))
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