Index shows improving business conditions

Business conditions in the Irish manufacturing economy continued to improve in 2004, according to the latest NCB Purchasing Managers' Index.

The Index recorded 52.2 in January, the fifth month of growth in a row, though slightly lower than the 52.6 seen in December.

New order books rose for the fifth consecutive month, while new export orders were up for the third

consecutive month.

Employment levels fell for the second month in a row with this index recording 48.7.

In December the index fell for the first time in three months to 49.4.

Costs continued to rise strongly, coming in at 56, but prices charged by firms rose only marginally.