The latest Purchasing Manager's Index from NCB has indicated a figure of 49.5 for the month of November. This represented a continued softening within the manufacturing sector, though it was an improvement on the number for October
Observers believe that Irish manufacturers may be experiencing gains resulting from their efforts to reduce inventories. In addition recent reductions in US interest rates are seen as a positive signal for this key export market. Overall, however, export markets continued to be weak, further reducing employment in this sector //www.fxcentre.com