Manufacturing growth holds steady

Manufacturing growth remained at the five-month low set in October, although output levels have risen, according to the latest…

Manufacturing growth remained at the five-month low set in October, although output levels have risen, according to the latest NCB Purchasing Managers' Index (PMI).

Seasonally adjusted PMI, which measures activity in manufacturing, was 52.3 in November, unchanged from October but above the critical 50 mark separating growth from contraction.

A number of firms linked higher output to increased new order volumes, while others linked expansion to efficiency gains.

According to the index, November saw the fourth successive monthly increase in staffing levels at Irish manufacturers.

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A number of firms reported that employees were hired to work on new product lines and in response to growth of new business. However, the rate of job creation eased marginally from October's eight-month high.

Many firms noted a substantial increase in input costs in November amid reports of higher prices for oil and raw materials.

Input prices rose at the sharpest rate for nine months.