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Irish industry off to a weak start

Ireland's manufacturing sector shrank for the fourth month in a row in January, according to the latest NCB Purchasing Managers' Index.

The index fell to 48.8 last month from 49.1 in December, the lowest level since October last year, as firms reported falling levels of output, orders, stocks and employment.

'This latest survey shows that weakness in the international economy and ongoing uncertainty continue to hamper Irish manufacturing activity,' said NCB chief economist Dermot O'Brien.

But he added that the rate of contraction on output and orders was modest, while the rate of decline in employment slowed.

Manufacturing production was scaled back slightly in January, ending a 12-month period of growth, as many firms reported weaker demand.