A report has shown that growth in the manufacturing sector of the economy slowed sharply last month.
The NCB Purchasing Managers' Index fell from 56 in April to 51.8, the weakest figure since November last year. Any figure above 50 signals growth.
The report showed that growth in new orders slowed, with this index falling to 52.9, though new export orders continued to expand strongly.
But employment levels fell for the first time since November as firms cut staff numbers in response to the slowdown in orders. The employment index dipped below the 50 mark to 49.9.
Prices of raw materials rose sharply again last month, with companies blaming higher oil and steel costs. Companies also raised the prices they charged for goods, though May's increase was the weakest for four months.
NCB economist Brian Devine said it was worrying that the PMI was dipping towards 50 once again, suggesting that the pace of activity in the manufacturing sector generally is slowing.
