Irish manufacturing hits 15-year high in boost to recovery

Posted by | September 01, 2014 | Uncategorized | No Comments

Irish manufacturing expanded at the fastest rate since 1999 in August,  figures from Investec Bank show this morning, as a surge in new orders offered further evidence that the economy is recovering steadily.

The Investec Manufacturing Purchasing Managers’ Index rose to a 15-year high of 57.3 in August from 55.4 in July, well above the 50 line dividing expansion from contraction and representing the 15th straight month of growth.

“This is a strong outcome, particularly when framed against the backdrop of weakening signs from some euro zone trading partners of late,” Philip O’Sullivan, chief economist at Investec said.

Mr O’Sullivan said while output and new orders rose sharply, the rate of job creation also improved to its fastest pace in three months as firms responded to increasing demand. Elsewhere, there was a marginal decline in pricing.

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Mr O’Sullivan said while output and new orders rose sharply, the rate of job creation also improved to its fastest pace in three months as firms responded to increasing demand. Elsewhere, there was a marginal decline in pricing. – See more at: http://www.independent.ie/business/irish-manufacturing-growth-rate-hits-15-year-high-30551827.html#sthash.uVDZtt99.dpuf
Mr O’Sullivan said while output and new orders rose sharply, the rate of job creation also improved to its fastest pace in three months as firms responded to increasing demand. Elsewhere, there was a marginal decline in pricing. – See more at: http://www.independent.ie/business/irish-manufacturing-growth-rate-hits-15-year-high-30551827.html#sthash.uVDZtt99.dpuf
Mr O’Sullivan said while output and new orders rose sharply, the rate of job creation also improved to its fastest pace in three months as firms responded to increasing demand. Elsewhere, there was a marginal decline in pricing. – See more at: http://www.independent.ie/business/irish-manufacturing-growth-rate-hits-15-year-high-30551827.html#sthash.uVDZtt99.dpuf

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