We need growth but we definitely need "profitable" growth.
My belief is that most of the indigenous exporters are losing money on their exports. What they are doing is generating cash flow and slowing down payments to creditors. Eventually we lose out through liquidation, examinership etc............
Bah, these PMI opinion polls are a joke. Most of them are completed in a 3 minutes and those few manufacturers that are left are writing them with a mindset akin to a person on death row awaiting a call from the judge to grant a reprieve.
Manufacturing does look like it is doing okay but up to now it is not creating jobs - hopefully that will follow. Won't be enough on its own, we need to see construction hit bottom and start rising again and retail also needs to bottom out.
I do believe manufacturing and FDI are a positive in all the gloom - probably the main reason our unemployment isn't as bad as Greece or Spain. Long may it continue.