Davy Research

Market comment

Slowdown in the pace of manufacturing growth in July

DAVY VIEW

The Irish manufacturing PMI fell to 54.6 in July, down from 56.0 in June. Operating conditions improved strongly in the month despite a slight easing in the rate of expansion, evidenced in a weaker rate of jobs and production growth. The services PMI will be the key steer for growth later in the week, but today’s release suggests that the economy entered Q3 on a solid footing.

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