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IRL - Irish February PMIs: Baseline For The COVID-19 Impact
New Ireland Fund Inc
With the start of March and with the coronavirus impacting the global economy, I have decided to restart coverage of Irish PMIs - something I did not do for some years now. So here are some of the 1Q 2020 results based on January-February data.
First off, Sector and Composite PMIs on a quarterly average basis. As a reminder, Composite PMIs are computed by me based on Markit and CSO data as GDP share-weighted averages for each sub-component, namely Manufacturing, Services, and Construction:
Services clearly lead the recovery from 4Q 2020 weakness, with both Manufacturing