2.6 increase in manufacturing

THE latest monthly Purchasing Managers’ Index (PMI), measuring the health of the manufacturing sector, showed a 2.6 increase in September to 46.6, but was still significantly below the 50 point mark of which any point above signifies industry growth.

“Although production decreased again in September, as new orders declined, the latest fall was the slowest in the current 19-month period of contraction,” the survey said.

It added: “Although operating conditions in the Irish manufacturing sector continued to deteriorate in September, latest data signalled that the pace of decline eased during the month. Slower falls in both output and new orders were recorded. However, jobs were still cut at a marked pace.”