India, Ireland Manufacturing PMI Show Robust Growth July

Ireland's manufacturing sector continued its growth streak in July, marking the seventh consecutive month of expansion with a Purchasing Managers' Index (PMI) of 53.2, slightly down from the near three-year high of 53.7 in June. Despite rising input costs driven by higher transportation and raw material prices, and global economic uncertainties, manufacturers reported increased output, new orders, and employment growth at a three-year high pace. Export sales rose marginally for the first time since March, supported by efforts to diversify into new markets in Asia and the Middle East. Optimism remains strong among Irish manufacturers, with 35% expecting higher production over the next year, potentially fueled by pent-up demand if trade frictions ease. Comparatively, Ireland's PMI surpassed those of the Eurozone, US, and UK, indicating relatively stronger manufacturing health. Meanwhile, India's manufacturing sector also showed robust growth in July, reaching a 16-month high PMI of 59.1, driven by strong new orders and output, although business confidence dipped to its lowest in three years due to inflation and competition concerns.