NSO manufacturing sector survey makes grim reading

A sample survey among manufacturing enterprises carried out by the National Statistics Office has shown a decrease in sales, investment and employment during the second quarter of 2008 when compared to the same quarter last year.

The NSO said in a statement today that during the second quarter of 2008, sales by the sampled manufacturing enterprises stood at €560.9 million, a decrease of €52.8 million or 8.6 per cent, when compared to the same period in 2007. The decrease was mainly due to the Radio, TV and Communication equipment sector and the Wearing apparel and clothes sector. Lower sales were also registered by the Furniture and Manufacturing n.e.c. (not elsewhere classified) and the Other transport equipment sectors.

Higher sales during the second quarter this year were registered by the Chemicals and chemical products sector, Fabricated metal products, Publishing and printing, and Food and Beverages sectors.

Export orientated enterprises generated €436.4 million or 77.8 per cent of the total sales.

Employment levels declined by 881 employees to 17,549, mostly in the textiles sector but also in the Radio, TV and Communication equipment sector. Increases in employment were mainly recorded in the Chemicals and chemical products sector and the Food and Beverages sector.

Investment in manufacturing during the April-June quarter amounted to €29.0 million, a decrease of €2 million when compared to €31.0 million for the second quarter of 2007.

Investment during the first six months totalled €70.7 million, a decrease of €15.2 million when compared to the first six months of 2007.