Operating Conditions In Irish Manufacturing Sector Continue To Deteriorate

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Ireland's seasonally adjusted NCB manufacturing purchasing managers' index or PMI rose slightly to 48.8 in November from from 48 recorded in October, Markit Economics said Tuesday. A PMI reading below 50 suggests contraction in the sector.

Manufacturing output and new business rose for the first time since February 2008. Higher output largely reflected new order growth, which in turn was attributed to strengthening demand.

Excess capacity was also signaled by a further marked reduction in employment during November, with the rate of job cuts broadly similar to those seen in each of the previous three months.

Input costs decreased for the thirteenth month running. Output prices also declined at a faster pace in November Irish manufacturers reduced purchasing activity as part of attempts to deplete inventories, Markit said.

Ireland's seasonally adjusted NCB manufacturing purchasing managers' index or PMI rose slightly to 48.8 in November from from 48 recorded in October, Markit Economics said Tuesday. A PMI reading below 50 suggests contraction in the sector. (Market News Provided by RTTNews)