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Tuesday 12 December 2017

Manufacturing growth eases

Economy

Manufacturing growth in Ireland eased to an eight month low last month, a survey shows.

Production rose for the 20th month in January, but the pace of that expansion eased with weaknesses in the global economy being blamed, according to the latest Purchasing Managers' Index for the sector.

Both Eurozone and UK manufacturing showed signs of modest growth.

Philip O'Sullivan (inset), economist with specialist bank Investec, said the rate of expansion in the Irish sector remained sharp, despite the slowdown.

"Last month we noted that the deteriorating global backdrop was a concern for the sector heading in to the New Year and this is likely to have been a factor behind the moderation in a number of the indices," Mr O'Sullivan said.

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