Manufacturing sees further dip in new business

IRELAND’s manufacturing sector suffered further in December, with the decline in new business levels accelerating and companies seeing a second consecutive monthly deterioration in operating conditions.

The monthly Manufacturing PMI (Purchasing Managers’ Index), from NCB Stockbrokers, was fractionally up on November’s reading — albeit just from 48.5 points to 48.6 points — but remained well below the neutral 50 point mark, which separates a sector in decline and one in growth.

Respondent companies, to the December edition of the survey, blamed the fragility of the economy and the ongoing uncertainty in the wider eurozone for the fall in new business orders during the month.