Manufacturing slows as exports hit by European customers cutting spending

News Snapshot:

Sluggish exports hit Irish factories last month, ending a brief upturn seen in August, according to a report published on Monday. European customers cut spending in September, hitting order books and slowing the Republic’s industrial production, according to the latest AIB Ireland Manufacturing Purchasing Managers’ Index (PMI). The index dipped to 49.6 last month, the figures show. The PMI takes 50 as its benchmark. Any reading below this figure signals a contraction while any result above this number indicates growth. Last month’s result lagged the 50.8 reading recorded in August, which marked a turnaround from this year’s generally downward trend,...