Stagnate growth in Irish manufacturing

Irish manufacturing has grown at its slowest pace since August 2005 last month, according to Irish Unison. The NBC Purchasing Managers' Index came in at 51.6 for November, down from 53.2 in October but just above the 50 mark which separates growth from contraction. In the survey, a number of firms stated that marketing campaigns had attracted new work, but even so the rate of new business growth eased for the fifth month in a row and was the weakest since August 2005.

Production continued to increase, with firms linking growth to higher new order levels and the introduction of new product lines. However, in line with the trend in new orders, the rate of growth of output was the weakest for 15 months. The results mirror a similar survey of eurozone manufacturing.

The Irish CSO last month stated that factory gate prices increased by 0.3% in October 2006. This equates to an increase of 0.3% recorded for October of last year. As a result, the annual percentage change showed an increase of 0.1% in October 2006, which compares to an increase of 0.1% in September 2006.