Meanwhile, survey indicators for employment, backlogs, input prices and output prices were all either the highest or second-highest on record. It is derived from indicators for new orders, output, employment, suppliers’ delivery times, and stocks of purchases. The output and new orders indices hit record highs, while the employment and suppliers’ delivery times indices were the second highest to date. Surging new orders led to a record rate of output growth in the manufacturing sector in May, surpassing the previous record expansion set in December 1999. Output prices have risen continuously since October 2020.

Source: The Irish Times June 01, 2021 04:00 UTC