IBEC wants credit guarantees for viable small firms as output increases

EMPLOYERS’ lobby group, IBEC has called on the Government to introduce a number of short- term measures — including credit guarantees for viable small firms — aimed at underpinning the competitiveness of Irish firms which are most exposed to sterling weakness.

The call was made on the back of new figures from the Central Statistics Office (CSO), yesterday, which showed a 2.7% year-on-year increase in production rates in the manufacturing sector in November.

IBEC chief economist, David Croughan said that despite the improved November figures — production was also up by 10.7% on a rolling month-by-month basis — last year was a difficult one for manufacturing industries here, with total output increasing by only 1.5% in the first 11 months of the year compared to a near 8% rise in the corresponding period in the previous year.