New figures show that activity in the manufacturing sector fell back in December despite a rise in new orders.
The NCB Purchasing Managers' Index, compiled by research group Markit, recorded 48.8 last month, unchanged from November. Any figure below 50 means activity was weaker, and this has been the case for just over two years.
Production at Irish manufacturing companies declined slightly in December, after a slight rise in November, though the new orders index recorded 50.2, indicating modest growth.
Employment levels fell for the 25th month in a row, though the figure of 45.4 was the best since May 2008.
Firms said intense competition led to another fall in their costs, but the decline was only slight - at 49.2 - as some raw materials prices increased. The index measuring prices charged by companies also fell markedly, recording 45.7.
