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Wed 05 May 2007Confidence in manufacturing risesConfidence in the manufacturing sector has increased and input cost inflation has eased, the latest Purchasing Managers Index (PMI) from NCB stockbrokers suggests. However, a detailed breakdown of the index suggests that this confidence is becoming more reliant on the domestic economy.From a reading of 51.7 in March, the overall PMI rose to 53.3 in April as the level of new orders rose. The move brings the latest reading of the PMI further away from the critical benchmark reading of 50, below which a reading indicates declining activity.