GENERAL INDUSTRY NEWS

Irish manufacturing ends 2020 with stronger expansion

Business Post – 05.01.2021
The Irish manufacturing sector saw a boost to business in December as firms prepared for the end of the Brexit transition period, according to the latest Purchasing Managers Index from AIB. Output rose at the fastest rates since July's post-lockdown bounce, and purchasing accelerated as firms sought to expand inventories to guard against a potential hard Brexit. The PMI rose sharply from 52.2 in November to 57.2 in December. This signalled a sixth overall improvement in manufacturing business conditions in the past seven months, and the strongest growth since July.

Economy set to grow in 2021

Business Post – 18.12.2020
The economy will end up growing by 3.4 per cent this year, according to the Economic and Social Research Institute. In its latest Quarterly Economic Commentary, the think-tank said exports by pharmaceutical and IT companies have remained strong but the shock of Covid-19 will impact the domestic economy for some time to come. The ESRI described its forecast as "somewhat surprising" and it comes as official government projections are for a decline in GDP of 2.4 per cent.