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Weak exports slow manufacturing growth

The rate of growth in Ireland's manufacturing sector eased for the second month in a row in August, according to the latest NCB Purchasing Managers' Index.

The index recorded a value of 51.3, compared with 53.6 in July, but above the key 50 mark which signals expansion for the seventh consecutive month.

'The slowing pace of manufacturing growth was driven largely by a fall in export demand,' said NCB economist Eunan King. He added that this appeared to be the result of uncertainty about the sustainability of the global economic recovery.

The survey showed that the rate of increase in production was the slowest since March, while growth in order books eased sharply to the slowest rate since February.