Business conditions in the manufacturing industry are improving, according to new figures released this morning.
The seasonally adjusted NCB Purchasing Managers' Index for October signalled a solid improvement in manufacturing business conditions as it posted a reading of 53.2.
The PMI has now pointed to growth in each of the past 38 months, although the latest expansion was the least marked since March. The index had stood at 54.2 in September.
Manufacturers recorded a solid increase in production in October. Output has now risen in each month since September 2003. A number of firms linked growth to higher new business volumes. Companies also commented on improvements in productivity.
Employment in the manufacturing sector increased marginally in October. Firms that hired extra staff commented on efforts to expand capacity.
However, employee numbers increased at the least marked pace in the current seven-month period of employment growth.
