FX.co ★ Irish Manufacturing Activity Deteriorates In December

Ireland's manufacturing activity signalled a contraction in December after stabilising in the previous month, survey results from S&P Global showed on Friday.

The headline AIB Manufacturing Purchasing Managers' Index dropped to 48.9 in December from 50.0 in November.

A score above 50 indicates expansion, while any score below 50 indicates contraction in the sector.

Among components, there were marginal declines in output and new orders in December, while a sharp fall was seen in the case of stock purchases.

Manufacturing employment was broadly unchanged amid a lack of pressure on business capacity and difficulties recruiting suitably skilled staff.

On the price front, input price inflation accelerated to a nine-month high in December, linked to higher staffing costs despite lower commodity prices. At the same time, selling prices decreased further due to ongoing competitive pressures to discount prices.