The AIB Ireland manufacturing purchasing managers' index rose to 51.5 points in October from 49.4 in September, moving above the neutral 50-point mark to indicate expansion in the sector. It was the best manufacturing PMI score since February this year.
New orders improved for the first time in eight months, S&P Global said, and the rate of growth in this new business intake was the strongest since May 2022.
The improvement was driven entirely by a recovery in domestic demand in Ireland, survey participants reported, as export sales decreased for the ninth straight month. They attributed the lower export orders to weak demand from Europe.
The PMI is compiled by S&P Global from the responses to questionnaires sent to about 250 manufacturers in Ireland. The responses were collected between October 10 and 24.
