New figures show the pace of momentum in the manufacturing sector's recovery weakened in April as production fell for the first time in three months.
However, new orders continued to increase and firms took on more staff at a faster pace.
NCB's Manufacturing purchasing managers index remained just above the expansion mark in April to stand at 50.1, down from the March figure of 51.5.
While the output index signalled contraction (48.7), the new orders (51.4) and export orders (53.1) indices expanded.
Employment (52.9) expanded for the second month in a row and the rate of job creation accelerated to the sharpest pace since this time last year, NCB noted.
The rate of price inflation also rose last month - its fifth rise in a row - due to higher oil prices. Manufacturers continued to lower their prices last month, however, as strong competition generally prevented firms from passing on greater cost burdens to clients.
NCB's chief economist Brian Devine said that the domestic part of the economy is starting to look a bit better and tomorrow's unemployment data should show a further tick down in the unemployment rate.
''The external data, though, is a drag, particularly from the euro area, and as a result industrial production was down 3.9% in the quarter to February 2012. The data from Europe is still weak and its unlikely that Friday's industrial production data for March will do enough to alter a first quarter decline,'' he added.
