Economics
Manufacturing sector shrinks again
Monday, 3 March 2008 08:37A new survey shows that activity in the manufacturing sector fell in February for the third month in a row.
The NCB Purchasing Managers' Index recorded 49.8. Though any figure below 50 means the sector contracted, February's fall was above the four-and-a-half year low of 46.4 in January.
New orders returned to growth, after two months of falls, helped by solid export orders, but employment dropped for the third month in a row.
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The costs index recorded 62.7, slightly less than January but still high, as companies reported a rise in raw materials prices. Prices charged by firms picked up to 54.8 as companies tried to protect their margins.
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