Irish stockpile grows at 21-year record
Irish manufacturers stock-piled finished goods at a record pace last month, as businesses braced for supply disruptions from what could have been a crash-out Brexit.
Stocks of finished goods among Irish manufacturers increased at the fastest rate in the 21-year series history, according to the latest Purchasers Manufacturing Index from AIB.
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Pre-production inventories increased for the seventh consecutive month during April.
Concerns about Brexit also hit business confidence, with sentiment dipping in April.
Overall, manufacturing output slowed to a 13-month low last month.
The PMI, an indicator designed to provide a single-figure measure of the health of the manufacturing industry, posted a reading of 52.5 in April, down from 53.9 in March.
Any reading over 50 is deemed growth, therefore manufacturing output continues to grow, albeit at a slower rate than the previous month.
"Despite falling in April, the Irish manufacturing PMI continues to outperform its eurozone counterpart, with stood at 47.8 in its first reading in April," said AIB chief economist Oliver Mangan.
Inflows of new business increased at the slowest pace since September 2016, as firms observed softer demand conditions in both domestic and international markets.