Manufacturing sector in growth mode

AN increase in new business levels kept Ireland’s combined manufacturing sector in growth mode during August, but the sector’s actual rate of growth slowed to its weakest level for five months.

The latest monthly purchasing managers’ index (PMI) for the manufacturing index – published by NCB Stockbrokers – measured 51.1 points in August. While still above the 50 point mark (above which any score rates as growth), it was down from 51.4 in July. It has now dropped by nearly 3 points since May.

But, although last month only saw a slight improvement in business conditions, operating conditions – amongst manufacturing firms – have now actually strengthened in each of the past six months.