PMI signals modest improvement
The performance of the Irish manufacturing economy improved for the 15th month running in November.
However, at 51.3, the seasonally adjusted Purchasing Managersā Index ā an indicator designed to
provide a single-figure measure of the economic health of the manufacturing industry ā showed that the latest improvement in business conditions was of a similar modest nature to that observed in October.
Rates of growth in output and new business remained well down on those recorded earlier in the year.
Commenting on the survey, Eunan King, senior economist at NCB stockbrokers - said: "Conditions in Irish manufacturing in November continued to show growth, though the pace was stable relative to October. New orders and export orders accelerated modestly but the pace of output growth slowed
marginally.
"Employment grew further, if not the pace of earlier in the year. The pace of input price inflation decelerated and output prices rose moderately. Overall it would appear that the manufacturing economy is in a state of steady growth."
