Irish manufacturing activity stable in May, PMI shows

Reuters
·1-min read
General view of the Grand Canal Docks area of Dublin

DUBLIN (Reuters) - Ireland's manufacturing sector steadied last month after contracting in April although demand remained subdued, a survey showed on Tuesday.

The AIB S&P Global manufacturing Purchasing Managers' Index (PMI) for Ireland stood at 49.8 in May, up from April's nine-month low of 47.6, and close to the all-important 50 level that marks growth in activity.

Respondents to the survey said economic conditions continued to be sluggish, with demand from domestic and international customers subdued.

Still, production volumes and incoming new work only fell marginally, and there was a solid rise in staffing levels that reflected increased confidence in market conditions for the coming months.

David McNamara, AIB's chief economist, said there was anecdotal evidence that weaker demand from key trading partners, including the UK, was behind the latest fall in activity.

(Reporting by Graham Fahy; Editing by Susan Fenton)

  • Up next
  • Up next
  • Up next
  • Up next

Latest stories

  • Popular pub shuts suddenly citing 'problems and other projects' amidst wages row

    Disgruntled employees of a popular pub have claimed that wages are still unpaid after the venue unexpectedly shut up shop last month.

  • What Labour has in store for your pension

    The pensioner vote has been a key battleground in this election. One of the Conservatives’ key pledges was the introduction of the “triple lock plus”, a higher tax-free personal allowance for the retired.

  • Shop boss fined thousands for not complying with enforcement notice from 14 years ago

    THE owner of a Conservation Area business has been ordered to pay over £8,000 for failing to comply with an enforcement notice issued almost 14 years ago.

  • Executive called ‘old fossil’ by younger boss wins £3.1m age discrimination payout

    A senior executive at a FTSE 250 firm who was told by his younger boss he was an “old fossil” who “did not know how to manage millennials” has won a £3.1 million age discrimination payout.

  • 4,000 unsafe items set for eBay seized by Suffolk Trading Standards

    Suffolk Trading Standards has seized thousands of unsafe products set to be sold on eBay.

  • BYD's steep EV discounting in Thailand sparks backlash, PM seeks assurances

    Thailand's consumer protection agency has received about 70 complaints since initiating a probe into aggressive discounting by BYD dealers that has left some buyers feeling they overpaid for their Chinese electric vehicles. Prime Minister Srettha Thavisin told BYD Chief Executive Wang Chuanfu, who was in Thailand to mark the opening of its first Southeast Asian factory this week and paid a courtesy call to the premier on Friday, to better manage customer expectations about pricing and ensure local buyers were protected. Wang gave assurances that future pricing would be appropriate and affected customers would receive support, according to a government spokesman.

  • EU slaps Chinese electric cars with tariffs of up to 38%

    The European Union on Thursday slapped extra provisional duties of up to 38 percent on Chinese electric car imports because of Beijing's "unfair" support, a move that risks escalating tensions with Beijing.- Expected cut to imports - The United States has already hiked customs duties on Chinese electric cars to 100 percent, while Canada is considering similar action.

  • British electricity prices could hinder switch to green technology, says steel industry

    UK Steel says British firms paid prices in spring well over double French and Spanish equivalents

  • Climate protest trial turns to chaos as defendants defy court rules

    Accused speak out of turn about climate threat and challenge judge who orders jury to leave

  • How this Airbnb exec is applying business strategy lessons to his HR role

    Dave Stephenson’s dual role is emblematic of a larger shift within the HR space that puts a new emphasis on business skills.

  • China steps up pressure with EU brandy probe hearing as EV tariffs begin

    BEIJING (Reuters) -China announced the next step in its anti-dumping investigation into European brandy imports on Friday, ramping up tension on the day the European Commission's provisional tariffs on Chinese-made electric vehicles take effect. Ahead of the bloc confirming tariffs of up to 37.6% on Chinese-made EVs on Thursday, a commerce ministry spokesperson told a news conference that Brussels and Beijing should keep negotiating, but kept the prospect of retaliation was alive with a reference to another investigation into EU pork imports.

  • China hints at targets in EV tariff battle

    STORY: China has dropped some hints about how it could retaliate against EU tariffs on its electric vehicle exports. The Commerce Ministry said Friday it would hold a hearing to examine claims European brandy producers are selling into the country at below market rates. Officials have also referred to another probe into EU pork exports. Analysts say the targets were chosen to pressure Spain and France - which have been among the strongest backers of the new levies. Europe this week imposed import tariffs of up to 37.6% on China-made EVs. That will hit local brands like BYD, but also Chinese-made cars from western firms including Tesla. The tariffs are provisional, while Brussels conducts a probe in Beijing’s support for its carmakers. China has said both sides should stay at the negotiating table for now. Officials have said they don’t want another trade war, but will take all necessary steps to protect Chinese firms. Reports in state-backed media indicate other possible targets for retaliation. That could include dairy products and luxury cars. The EU tariffs have also divided opinion in Europe. German automakers have called for them to be scrapped, fearing they could be a target for Beijing’s response.

  • North Sea oil producers urge Labour's Starmer for tax clarity

    North Sea oil and gas producers urged Britain's incoming Prime Minister Keir Starmer to provide clarity on his election promise to increase tax on the sector, warning it could lead to a rapid decline in output and revenue. Starmer's Labour Party swept to power in a parliamentary election on Thursday, ending 14 years of Conservative government. David Whitehouse, Chief Executive of industry body Offshore Energies UK, said the sector and investors were deeply concerned over Labour's plans.

  • Musk asks judge to dismiss shareholder lawsuit, argues delayed Twitter disclosure a ‘mistake’

    Elon Musk has asked a federal judge in New York to dismiss a lawsuit brought by shareholders of Twitter, the platform now known as X, arguing the delayed disclosure of his stake in the social media company was a “mistake.” The billionaire was sued by Twitter shareholders in April 2022 after revealing he had acquired…

  • China's talent and infrastructure are strengths in AI race with US, experts say

    China's ability to develop infrastructure quickly and boost its talent pool can help the nation compete with the United States in the global artificial intelligence (AI) race, industry experts said on Thursday at the China Conference organised by the South China Morning Post. While Chinese tech giants are unable to match their American counterparts in terms of budget and access to advanced AI chips designed by industry leader Nvidia, speedy infrastructure development on the mainland has provided

  • Judge Whose Daughter Works For Disney Removes Herself From Relocation Lawsuit

    The judge in the case of two women suing Disney over its scrapped plan to move staffers 2,500 miles across the country has stepped down because her daughter works for Burbank-based conglomerate. Judge Carolyn B. Kuhl stepped aside last week, and a new jurist — Judge Lawrence P. Riff — was assigned Wednesday to oversee …

  • Chery launches 28,000 euro crossover SUV in Italy as it plans Europe expansion

    China's Chery Auto is starting sales in Italy with a petrol version of its Omoda 5 crossover SUV, priced from 27,900 euros ($30,182), as the automaker assesses its options to expand its manufacturing capacity and sales in Europe. One of several Chinese companies bringing budget cars to Europe, mostly electric, Chery began European sales in Spain earlier this year. It is now expanding in the region and aims to enter over 60 new markets globally in the next three years, Vice President Shawn Xu said late on Thursday at a presentation in Milan.

  • China to hold hearing into brandy imports as tension grows with EU over tariffs on EVs

    Ministry will discuss investigation into claims that European producers are selling goods below market rates

  • Offshore workers to train to fight helipad fire at new County Durham facility

    Offshore workers across the UK will learn to fight helicopter and helideck fires at a new Bowburn training facility.

  • Germany blocks another big business deal with China

    Germany has blocked the sale of a Volkswagen subsidiary to a Chinese state-owned company on national security grounds, delivering a fresh blow to the already tense relationship with its biggest trading partner.