The sustained weakness of the euro looks set to boost Irish manufacturing again in 2016 even though there was some mixed news about the prospects for the UK — Ireland’s largest market.

Mark Carney needs to be careful to not overplay his hand today talking about higher UK interest rates.

The outlook for output and jobs at Irish manufacturers looks rosy, with demand in the UK and in the rest of the world likely to drive demand in factories through the rest of the year, a major survey of purchasing managers has revealed.

European Central Bank executive board member Benoit Coeure cautioned that the region’s economic recovery is reversible and needs to be used as an opportunity by governments to boost growth potential.

British manufacturing output unexpectedly fell in January as computer and electronics production plunged.

Eurozone consumer prices fell less than economists forecast last month, offering some relief to the ECB as it prepares to put its unprecedented bond-buying program into action.

Eurozone companies stepped up hiring as manufacturing and services activity from Germany to Spain expanded faster than economists estimated.

Germany’s Mittelstand companies, the small and medium-sized enterprises accounting for more than half of gross domestic product, are holding back on investment amid doubts about economic growth, a bank association said.

European equity markets, with the exception of Norway, finished in negative territory yesterday following a turbulent day of trading. Data released by Markit Economics showed the eurozone final December Composite PMI came in at 51.4. 

A Chinese manufacturing gauge slipped to the lowest level in 18 months, adding pressure on policy makers to do more to support growth.

The eurozone economy risks a renewed slowdown. A Purchasing Managers Index for factories and services activity unexpectedly fell to 51.4 in November, the lowest in 16 months, from 52.1 in October, London-based Markit Economics said. A reading above 50 indicates expansion.

Hong Kong’s business conditions in October worsened the most in more than three years in part because of continuing pro-democracy protests, according to the compilers of an economic benchmark.

European Central Bank vice-president Vitor Constancio said €1 trillion of asset-backed securities (ABS) and covered bonds are eligible for purchase by the institution.

When the European Central Bank unleashed a stimulus barrage in June, it cautioned the economy would take some time to respond. Data due this week may test its patience.

Eurozone manufacturing and services activity strengthened in a sign of confidence that fresh stimulus by the ECB will consolidate a fledgling economic recovery.

Eurozone manufacturing and services activity weakened in June amid a further slowdown in France’s economy, underscoring the fragility of recovery in the 18-nation region.

Manufacturing in the euro area slowed more than initially estimated in May amid weakness in France, adding to evidence of the region’s uneven recovery as the European Central Bank weighs more stimulus to shore up growth and inflation.

European Central Bank president Mario Draghi signalled that officials are ready to ease monetary policy next month and stepped up his expressions of concern about the euro’s exchange rate.

Euro-area services and manufacturing expanded faster than economists forecast in April, indicating the economy continued to strengthen at the start of the second quarter.

The Irish manufacturing sector continued to expand and increase employment levels, although the pace of expansion moderated to its lowest level in five months.

Eurozone services output expanded more than initially estimated in September, as the 17-nation currency bloc’s economic recovery gained momentum.

Eurozone services growth accelerated to the fastest in more than two years in September as demand and confidence improved.

Eurozone factory output expanded at a faster pace than initially estimated in August, driven by a resurgence in Italy and Spain, as the 17-nation currency bloc’s recovery began to build momentum.

Eurozone services expanded in August for the first time in 19 months after the 17-nation bloc’s economy emerged from a record-long recession.

Eurozone manufacturing expanded at a faster pace than initially estimated in July as the industry resumed growth after two years of contraction amid increasing signs the economy is pulling out of a record-long recession.

Eurozone manufacturing unexpectedly expanded in July for the first time in two years, led by Germany, adding to signs the bloc’s economy is emerging from a record-long recession.

The euro fell against the majority of its 16 most-traded peers as a report showed unemployment in the eurozone climbed to a record in February, adding to concerns that the economy will struggle to emerge from recession.

The euro declined on speculation that the European Central Bank will cut interest rates to a record low today after a report showed Germany’s services industries unexpectedly shrank last month.

European Central Bank president Mario Draghi left open the option of further stimulus if the economy continues to deteriorate as investors await the outcome of elections in Greece and France.

EUROPEAN services and manufacturing growth held steady in August at the slowest pace in almost two years, adding to signs the euro-region recovery is losing momentum as the sovereign debt crisis persists.

A SLOWDOWN in orders saw manufacturing firms cutting jobs last month as activity slowed not just in Ireland but worldwide.

THE manufacturing sector slumped in September for the first time in seven months as Ireland lags Europe, where the sector continues to expand.

CONFIDENCE in the future of the service sector in Ireland is the highest in the EU, with sentiment in manufacturing also starting to pick up.

MANUFACTURING output in April grew at the fastest pace in 10 years, contributing to a further improvement in the overall conditions in the sector, a survey showed yesterday.