Business ETC uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Click here to find out more »
Dublin: 13 °C Thursday 24 April, 2014

Irish economy starting to wilt again

Manufacturing indexes across Europe paint a stark picture this morning.

TODAY’S PMI readings for Europe are showing the economic trainwreck on full display.

Remember, a PMI reading is a gauge of a country’s manufacturing sector. Anything below 50 is contraction.

Spain has just fallen from 46.8 to 44.2.

But they’re not alone this morning.

Ireland has come out with an ugly number as well.

Remember, Ireland has been one of the standout stories for Europe. It has done the best job getting its borrowing costs down, and regaining market confidence. And its economy has done well.

But now it’s wilting.

For March, its PMI fell from 51.5 to 48.6, a sign of a severe quick downturn.

Here’s the general story, from Markit:

  • Share on Facebook
  • Email this article
  •  

Published with permission from:

Business Insider
Business Insider is a business site with strong financial, media and tech focus.

Read next:

Comments (63 Comments)

Add New Comment