Manufacturing sector hit by domestic demand but rate of decline falls

IRELAND’S manufacturing sector contracted at the slowest pace in June since September, with fragile domestic demand somewhat offset by the slower decline of new export business, a survey showed yesterday.

The NCB Purchasing Managers’ Index (PMI), which measures Irish manufacturing activity, rose for the fourth consecutive month to 42.5 in June from 39.4 in May but remained well below the 50.0 mark separating growth from contraction.