Manufacturing declines run into January

Operating conditions in the manufacturing sector continued to deteriorate in January with activity and output falling for the third consecutive month.

The latest monthly purchasing managers’ index for the sector, published by NCB Stockbrokers, fell from a reading of 48.6 points in December to 48.3 points for January.

Despite further increases in new export orders, January’s key extractable points were bleak and predictable: a solid decline in overall new business orders, production declines “at a solid pace” and a quickening in input cost inflation.