Business conditions improve in March, says NCB

Business conditions in the Irish manufacturing sector showed a further improvement in March, according to the latest NCB survey.

However, the seasonally-adjusted Purchasing Managers’ Index - an indicator designed to provide a single-figure measure of the economic health of the manufacturing industry - fell for a third consecutive month to 50.7.

That reading was down from 51.8 in February, and indicated the weakest expansion of the sector since September 2003.

Commenting on the survey, NCB Stockbrokers senior economist Eunan King said: "Manufacturing activity appears to be expanding only modestly, mainly as a result of weakening export demand.

"Employment is still rising, if at a marginal rate. Input prices continue to outpace the rise in output prices."