RTTNews - Ireland's NCB Purchasing Managers' Index or PMI for the manufacturing sector increased to a seasonally adjusted 42.5 in June from 39.4 in May, a survey showed on Wednesday. The contraction in manufacturing sector was the slowest since September 2008.
A reading above 50 indicates expansion in the sector, while a reading below 50 signals a contraction.
The rates of decline of output, new orders and employment all eased over the month.
Lower new orders continued to drive the fall in production. New business contracted at the slowest pace in the current sixteen-month period of contraction, the survey added. Similarly, the new export business decreased at a weaker pace in June.
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