Manufacturing falls at fastest pace in 4 years

Manufacturing output fell at its fastest pace for nearly four years last month, with employment levels in the manufacturing sector showing their sharpest decline since late 2011.

Weakening market demand was the main factor in the lower production levels, according to the latest edition of the monthly manufacturing purchasing managers’ index, from NCB Stockbrokers.

The index — which fell to a reading of 48 points, from 48.6 (anything below a reading of 50 points signifies a sector in decline) last month — also shows that new business orders declined for the third time in four months.