Manufacturing sector activity grows further

Manufacturing sector activity here grew for the eighth month in a row in October and at the fastest rate in three months as orders from abroad rebounded following a September dip, a survey has revealed.

The country’s export-reliant economy grew last year for the first time since the financial crisis began and is expected to post very modest growth again this year, a forecast that appears to be backed up by recent manufacturing and service sector data.

Manufacturing activity has grown every month since February and although it has not matched the pace of early last year when growth was at its fastest, the NCB Purchasing Managers’ Index (PMI) climbed to 52.1 in October from 51.8 in September.