Manufacturing collapses in April due to Covid-19 – PMI
Manufacturing in Ireland is going through record falls in output and employment, according to a new survey.
The AIB Manufacturing Purchasing Managers Index shows that in April output, new orders, exports and purchasing all fell at the fastest rates ever recorded.
The survey also found that it is taking longer for suppliers to deliver raw materials and parts, due to delays and disruption caused by the lockdown.
According to AIB’s chief economist Oliver Mangan, almost 70% of firms reported a decline in production.
Almost two thirds of companies reported a decline in new orders, with a ‘particularly sharp decline’ in export orders. 40% of firms cut staff numbers.
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