Manufacturing industry boosted by new figures

The Purchasing Managers’ Index (PMI) - an indicator designed to provide a single figure measure of the health of the manufacturing industry - rose to 50.9 in October after falling to below 50 in September.

The new orders index rebounded strongly from 47.3 in September to 51.1.

The export sector has been the driving force of the Irish economy during the current crisis and it is significant to note that new export orders surged from 45.9 to 54.9 in October.

The export sector is currently counterbalancing the continued weakness in the domestic economy and may enable the economy to better absorb the forthcoming fiscal cuts.