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Manufacturing down, insolvencies up

  • 01-10-2010 9:15am
    #1
    peasant
    Registered Users, Registered Users 2 Posts: 17,819 ✭✭✭✭


    Two years later and we're still not recovering:
    New data shows that the country's manufacturing industry last month saw the first deterioration in operating conditions since February.

    The NCB Purchasing Managers index for September - which shows the health of the manufacturing sector - fell below the no-change mark of 50 for the first time in seven months as new business, employment and pre-production levels all decreased. The PMI fell to 48.4 in September from a reading of 51.1 in August.

    New business slowed slightly last month - the first reduction in seven months as companies reported a fall in demand. New export business also declined for the first time since October 2009
    http://www.rte.ie/business/2010/1001/economy.html
    A total of 1,132 companies have gone out of business in the first nine months of the year, an increase of just over 12.5% on the same time last year.

    The figures, from InsolvencyJournal.ie, show that the number of companies in Ireland becoming insolvent has risen sharply in September after a seasonal low in August. The numbers rose from 95 in August to 120 last month.
    http://www.rte.ie/news/2010/1001/insolvency.html

    So much for the "we will trade our way out of this" theory.

    Anyone got any bright ideas what to do next?


Comments

  • #2
    old_aussie
    Registered Users, Registered Users 2 Posts: 3,410 ✭✭✭old_aussie


    Hire Australian Politicians to run Ireland.

    Australia had a very very small downturn and now we're well and truely on the way up again.


  • #3
    old_aussie
    Registered Users, Registered Users 2 Posts: 3,410 ✭✭✭old_aussie


    here's a link

    http://www.tradingeconomics.com/Economics/GDP-Growth.aspx?Symbol=AUD


  • #4
    Amhran Nua
    Closed Accounts Posts: 4,124 ✭✭✭Amhran Nua


    old_aussie wrote: »
    Hire Australian Politicians to run Ireland.

    Australia had a very very small downturn and now we're well and truely on the way up again.
    I'm sure if we had continent-scale mineral resources we'd be doing alright as well. I'd settle for some of the sunshine though.


  • #5
    northern light
    Closed Accounts Posts: 1 ✭northern light


    Amhran Nua wrote: »
    I'm sure if we had continent-scale mineral resources we'd be doing alright as well. I'd settle for some of the sunshine though.
    Sunshine on a rainy day! How about pitching the Galway Tent in Siberia and exporting all the brainless politians out to live their till the economy turns! Could be gone a good while:rolleyes:


  • #6
    Mister men
    Closed Accounts Posts: 2,487 ✭✭✭Mister men


    Yes for jobs.


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  • #7
    hinault
    Registered Users, Registered Users 2 Posts: 5,932 ✭✭✭hinault


    old_aussie wrote: »
    Hire Australian Politicians to run Ireland.

    Australia had a very very small downturn and now we're well and truely on the way up again.


    I'm currently reading some interesting stuff about how Aussie Prime Minister Bob Hawke and his governments policies helped create a sustainable present day Australian economy.


  • #8
    Tipp Man
    Closed Accounts Posts: 4,025 ✭✭✭Tipp Man


    hinault wrote: »
    I'm currently reading some interesting stuff about how Aussie Prime Minister Bob Hawke and his governments policies helped create a sustainable present day Australian economy.

    A book or something else? any title?


  • #9
    hinault
    Registered Users, Registered Users 2 Posts: 5,932 ✭✭✭hinault


    Tipp Man wrote: »
    A book or something else? any title?

    Book is called Aftershock by Philippe Legrain.
    ISBN-10: 1408702231
    ISBN-13: 978-1408702239

    In it, Legrain explains how several economies have moved to improve themselves and how countries like Australia and the policies of Bob Hawke helped to build an economy which has managed to withstand the great recession of 2007-now.


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