Export demand helps manufacturing

Business conditions among manufacturing firms improved for a seventh straight month in December, according to new figures, with rising demand for Irish exports from Britain, China and the US ensuring the sector closed 2013 on a positive note.

The latest purchasing managers’ index (PMI) for the manufacturing sector from specialist bank Investec yesterday showed a reading of 53.5 points for December, up from 52.4 points in November. Anything above the neutral 50-point mark representing a sector in growth mode.

New business orders for Irish-based manufacturing firms increased for the sixth consecutive month in December and an increase in production levels led to a continued rise in employment levels, although the actual rate of job creation was at its lowest for three months in December.