Survey Shows Growth in Manufacturing
According to a recent survey, Ireland’s manufacturing sector is experiencing recovery in the last month.
In may the Investec Manufacturing Purchasing Managers’ Index was at 51.5, and in June it rose to 53.
This survey was completed before the Brexit vote, which is expected to hurt the Irish economy. Because the UK is one of the largest markets for Irish exporters, this recovery period may be short lived.
According to Investec, about one out of seven manufacturers in Ireland exports product to the UK. Their reports for June indicated that many organizations were preparing for the effects of the Brexit vote early on.