There has been a mild downturn in the manufacturing sector.
An AIB survey shows a further deterioration in business conditions in December.
The deterioration in conditions in the sector - the sixth time in the past seven months - is longest downturn since the second half of 2011 through to early 2012.
Among the key contributing factors the report says was poor performance of exports.
Lower incoming business led to a further cut in production in December, the sixth in eight months.
However the overall downturn was mild and 42% of people surveyed remained upbeat about growth in the sector.. the strongest sentiments since June.