Irish manufacturing activity shrank for the fifth consecutive month in December, according to the latest NCB Purchasing Managers' Index.
The PMI figure for the month was 47.7, up from 46.4 in November and October's low of 46.1, but still below the 50 mark which signals no change. A measure above 50 signals growth.
'While the PMI remains below the crucial 50 level, the signs of recovery that emerged in the November report appear to have strengthened,' said NCB chief economist Dermot O'Brien.
Irish manufacturing activity shrank for the fifth consecutive month in December, according to the latest NCB Purchasing Managers' Index.
The PMI figure for the month was 47.7, up from 46.4 in November and October's low of 46.1, but still below the 50 mark which signals no change. A measure above 50 signals growth.
'While the PMI remains below the crucial 50 level, the signs of recovery that emerged in the November report appear to have strengthened,' said NCB chief economist Dermot O'Brien.
The report said the contraction in December was led by a drop in new orders, which was attributed to the poor global economic conditions. Export orders fell for the eighth month in a row, albeit at the slowest rate for six months.
Employment levels continued to fall, but the report said the rate of job shedding was 'much less marked' than in November.
