DUBLIN, April 3 (Reuters) - Ireland's manufacturing
sector crept back into contraction territory in March following
renewed declines in orders and output that reflected subdued
underlying demand conditions, a survey showed on Monday.
However, there were further alleviations in both supply and
price pressures and confidence in the sector remained broadly in
line with February's year-long high amid hopes of a pick-up in
market conditions and plans to expand production.
The AIB S&P Global manufacturing Purchasing Managers' Index
(PMI) fell to 49.7 from 51.3 in February, having fluctuated just
above or below the 50 mark separating expansion from contraction
for the last nine months.
"That signals broadly stable business conditions and as has
been the case for some time, the Irish reading was again above
the flash manufacturing PMIs for the US, Eurozone and UK," AIB's
chief economist Oliver Mangan said.
With inflation across the economy beginning to moderate, the
survey showed a further sharp slowdown in the rate of input and
output price growth to 53.8 and 54.4 respectively, nearing
levels that would signal a stabilisation in prices, Mangan said.
Lead times shortened for the second time in the past three
months as well and to the greatest extent since July 2013.
(Reporting by Padraic Halpin; Editing by Toby Chopra)
Messaging: padraic.halpin.thomsonreuters.com@reuters.net))
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