1st Dec 2015 06:43
DUBLIN (Alliance News) - Ireland's manufacturing activity continued to expand strongly in November, albeit the rate growth was the weakest in twenty one months, survey figures from Markit Economics showed Tuesday.
The seasonally adjusted Investec purchasing managers' index dropped slightly to 53.3 in November from 53.6 in October. However, any reading above 50 indicates expansion in the sector.
Moreover, business conditions have now strengthened in each of the past 30 months.
New orders grew for the twenty-fifth successive month in November. New export order also rose sharply, with the rate of inflation little-changed from that seen in the prior month.
Consequently, manufacturers raised their production in November. Output has increased on a monthly basis throughout the past two-and-a-half years.
Firms increased their staffing levels further in November, in line with new order growth.
On the price front, input prices dropped for the fourth month running in November. In contrast, selling prices rose marginally during the month.
Copyright RTT News/dpa-AFX