IRELAND S&P GLOBAL OCTOBER MANUFACTURING PMI AT 51.5 (VS 49.4 IN SEPTEMBER)
DUBLIN, Nov 1 (Reuters) -Irish manufacturing activity was boosted in October by production volumes and incoming new work, a survey showed on Friday.
The AIB S&P Global manufacturing Purchasing Managers' Index (PMI) rose to 51.5 in October from September's 49.4, moving above the 50.0 threshold that separates growth from contraction.
Manufacturers said there was a steady recovery in domestic demand and underlying economic conditions had improved, but export sales dropped for the ninth straight month, which they attributed to weak European demand and overstocked customers.
Employment numbers continued to decrease slightly in October, as firms remained cautious about new hires and the replacement of staff that have left voluntarily.
AIB Chief Economist David McNamara said the improvement in business conditions was the fastest since February, and highlighted the broadly positive outlook among manufacturers.
The survey found that expectations around business activity for the year ahead had improved again, with around 49% of manufacturers anticipating a rise in output in the next 12 months, while only 12% forecast a decline.
Reporting by Graham Fahy; Editing by Hugh Lawson
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