Monday 23 January 2017

New figures show worrying manufacturing slowdown

Published 03/10/2011 | 08:23

FIGURES out today show the health of the manufacturing sector deteriorated at the sharpest rate for two years last month.

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Output has contracted and new business fell at a faster pace.

The NCB Purchasing Managers' Index slipped to 47.3 from 49.7 in July - any reading above 50 signals growth while under 50 signals contraction.

NCB said the reading signalled a solid deterioration in operating conditions in the sector, and the sharpest since September 2009.

New business decreased for the fourth successive month, and at a speed that was the fastest since August 2009.

The rate of decline in purchasing activity quickened markedly over the month, and was the strongest since August 2009, NCB said.

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