Market comment - Irish manufacturing PMI falls to 49.4 in November

Davy Research
/Read Important Disclosures

This morning’s Irish manufacturing PMI is disappointing, falling to 49.4 in November – below 50 for the fifth time in six months – and with employment contracting for the first time since 2016. However, sentiment picked up to a five-month high on expectations of stronger client demand and new orders rose marginally. Wednesday’s Services PMI should show stronger evidence of a bounce now that the risk of a ‘no-deal’ Brexit on October 31st has been avoided.