Irish manufacturing grows at slow pace

Conditions in Ireland's manufacturing sector strengthened in October - but at their slowest rate for 13 months, a survey showed…

Conditions in Ireland's manufacturing sector strengthened in October - but at their slowest rate for 13 months, a survey showed today.

The seasonally adjusted NCB Purchasing Managers' Index stood at 51.4 in October, down from September's 52.6. Any reading above 50 represents expansion.

"The PMI suggests that the pace of manufacturing growth slowed in October. This would appear to have been mainly because of weaker export orders. It is, however, encouraging that employment continued to grow," NCB senior economist Mr Eunan King said.

"Input prices rose strongly as oil and metal prices firmed," he added in a statement.