Manufacturing data at all-time low

A SLIGHT improvement in the manufacturing sector was recorded last month, though it is still significantly weaker than a year earlier.

The latest NCB purchasing managers index (PMI) rose to 45.2 in May from 44.7 in April — its lowest ever level. In May last year the survey recorded a reading of 51.9.

The PMI — an economic indicator designed to provide a measure of the health of the manufacturing sector — also reported a sharp fall in new work, which was linked to weaknesses in the construction sector.