Figures released this morning show that manufacturing activity grew in February at its weakest level in three months.
The latest Purchasing Managers' Index, from NCB Stockbrokers, posted a reading of 51.8 in February, down from the figure of 52.9 in January. Any number over 50 indicates growth.
'The manufacturing sector continues to show growth, but the pace has decelerated in the last three months,' commented Eunan King, Senior Economist at NCB Stockbrokers. 'This appears to mirror what has been happening in the euro zone economy over that period.'
He said, however, that last month's increased orders from Germany is also in line with the perception that the climate in the EU has maybe improved as we moved into the new year.
The economist said that employment is only showing marginal growth, and input prices are continuing to rise strongly if marginally slower than last year.
