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Morning business news - October 3

Christopher McKevitt
Christopher McKevitt

MANUFACTURING SECTOR SHRANK IN SEPTEMBER - Contraction in the manufacturing sector hit its fastest pace in two years during the month of September, according to NCB's stockbrokers monthly purchasing managers index.

The index reading was 47.3 In september compared to 49.7 in August - any reading below 50 is contraction.

NCB Stockbrokers Brian Devine said this could reflect a tapering off in exports.

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FURTHER FALLS IN HOUSE PRICES - Two property house price reports this morning confirm continued suspicions that asking prices by house vendors continued to fall in the past few months.

Daft.ie says the decline was 3.5% while myhome.ie puts the decline at a more cautious 3.2%.

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CURRENCIES - A Euro buys $1.3336 and 85.82 pence sterling.