Selling prices decline for first time since late 2020, says AIB
Business sentiment, meanwhile, remained “historically subdued”, AIB said, although the manufacturing firms surveyed said they were generally optimistic about the prospect of a rebound in output over the next year.
“The downturn in global manufacturing stems from weak demand, with declining new orders, falling production and a rundown of inventories,” said AIB chief economist Oliver Mangan. But the Irish contraction is part of a global trend this year, he said, with flash manufacturing PMIs for the euro zone, the UK and the US published recently all indicating further deterioration in May.
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