| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 International
 Property
 Innovation
 
 Analysis/Comment
 
 Asia Economy

RSS FEED


How to use our RSS feed

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : Irish Economy Last Updated: Jan 4, 2011 - 12:11 AM


Recovery in Irish manufacturing sector continued in December; Employment rose
By Finfacts Team
Jan 3, 2011 - 7:07 AM

Email this article
 Printer friendly page
Source: Markit

The recovery in the Irish manufacturing sector continued in December, with both output and new orders rising at solid rates and employment increasing, according to a report published on Monday. The improvements were recorded despite disruption caused by poor weather conditions.

The seasonally adjusted NCB Purchasing Managers’ Index (PMI) - -  an indicator designed to provide a single figure measure of the health of the manufacturing industry – rose for the third month running to 52.2 in December, from 51.2 in the previous month, to register a modest strengthening of operating conditions in the sector. Moreover, the improvement was the most marked since May.

Solid output growth was recorded in December, in line with rising new business from both domestic and overseas markets. Production has now increased in each of the past ten months, with the latest rise the steepest since June.

Overall new order growth expanded in December, while new export business continued to increase at a solid pace. Those panellists reporting higher new orders from abroad highlighted Asia, the Middle East and the UK as sources of growth. Despite higher new business levels, work-in-hand fell further. However, the reduction in backlogs in December was the slowest since July.

Irish manufacturers raised employment for the first time in seven months, but at only a marginal pace. The rise in staffing levels mainly reflected increased workloads.

Input price inflation remained elevated in December, despite easing slightly over the month. Raw material prices were the main source of input cost inflation, with higher oil-related prices also mentioned. In contrast to the rise in input costs, Irish manufacturers lowered output prices over the month as firms offered discounts in an attempt to stimulate new business. The fall in charges was the third in the past four months.

The survey showed that poor weather conditions were the key factor behind December’s deterioration in vendor performance. Lead times lengthened markedly, albeit at the slowest pace in nine months.

Purchasing activity rose for the tenth consecutive month in December, and at a solid pace that was the steepest since April. According to respondents, the rise was mainly due to increased new order levels.

Despite higher purchasing, stocks of inputs decreased as inputs were utilised in the production process. However, the fall was the weakest in thirty-one months. Stocks of finished goods also decreased, with the marked reduction largely due to stocks being used to help meet increased sales.

The NCB Republic of Ireland Manufacturing PMI (Purchasing Managers’ Index) is produced by Markit Economics. The report features original survey data collected from a representative panel of around 300 companies based in the Republic of Ireland manufacturing sector.

Europe manufacturing has shown fast improvement, but growing Asian countries will not be able to absorb the continent's goods, Roger Nightingale, a strategist at Pointon York told CNBC:

Related Articles
Related Articles


© Copyright 2010 by Finfacts.com

Top of Page

Irish Economy
Latest Headlines
Finfacts launches new news site
Irish Farmers & Milk Prices: 'Shackles' off in April; Demanding safety-net in August
Irish pension managed funds returns at over 12% year-to-date in 2015
Irish chartered accountants' salary packages surge 13% in 12 months
Irish services PMI fastest rate since late 2006; Official data up only 2.4% in 12 months
Irish Economy: Tax €893m above target in year to July — €653m from corporation tax
Fact and Fiction: Time to review Ireland's economic statistics?
Irish M&A deals H1 2015: Dutch or UK firm acquires Irish firm for €32.6bn - they are both American
Irish manufacturing PMI strong in July
Irish Economy: Fall in GNP in Q1 2015; GDP rises
Irish Economy 2015: Central Bank lauds strong recovery; Time to start paying down debt
Irish Budget 2016: Ibec demands 20 tax cuts, spending and investment rises
Low pay in Ireland; Lowest social security & corporate taxes in Europe
Ireland vs Greece: Enda Kenny's false claims on growth, taxes and debt
Irish standard of living in 2014 below Euro Area average, Italian level; Prices 5th highest in EU28
Irish goods exports rose a record 30% in April - due to fake tax-related transactions
Mexican tall ship to sail into Dublin on June 17th
Irish industrial production up 20% in first four months of 2015; Construction down 2.6% in first quarter
Irish Economy 2015: ESRI slams return to boom-time pro-cyclical fiscal policy
Irish pension fund returns in average range 1.6% - 1.8% in May 2015
Irish service sector PMI remains strong; Tax avoidance clouds data
Ireland: Official unemployment rate at 9.8% in May; Broad rate at 19% — 440,000 people
Ireland: Fiscal Council warns of dodgy forecasts, no plan; OECD warns of new property bubble
Irish Public Finances: Tax revenue in first five months of 2015 €734m ahead of target
No simple measure of economic progress in Ireland: GDP & GNP defective
Irish manufacturing PMI rises in May; Production up unbelievable 45% in year to March!
ESRI says data volatility hinders Irish economic forecasting; Tax avoidance taboo cause
Ireland at 16 in international competitiveness ranking; US, Singapore and Hong Kong on top
Irish Economy 2015: Sectors to add 200,000 jobs?; Broad jobless rate at 19%
Irish Export Performance: Myths and reality - Ireland is a poor exporter
Irish Economy: 41,300 jobs added in 12 months to Q1 2015 - Construction up 19,600
China-Ireland: Economic relationship on a slow burn
Estonia, Austria, France, Ireland head global alcohol rankings
Irish Exchequer Returns: Tax receipts under target in April but ahead in year
Irish service sector PMI rose in April
Irish manufacturing PMI remained strong in April- includes overseas manufacturing
Irish Live Register + 90,000 activation scheme numbers at 439,000 in April
Ireland: Coalition drops 2018 full-employment target
Ireland Spring Statement: Noonan promises 200,000 net new jobs by 2018
Irish Economy 2015: Retail sales volume up 1.4% in month of March