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Manufacturing conditions improve after four month slump

Manufacturers reported an improvement in business conditions during October, following four months of steady decline.

The latest AIB Manufacturing Purchasing Managers’ Index has recorded growth in new orders and output, with employment also improving in the month.

It marks the first improvement since May, with the headline PMI rising three points on September’s reading to 50.7.

Average selling prices increased during the month, though cost burdens were also higher due to greater raw material prices.

Meanwhile sentiment improved despite ongoing Brexit uncertainty, with firms predicting increased output and consumer orders over the coming 12 months.