Irish manufacturing increases for 17th month in a row

Irish manufacturing activity expanded for the 17th successive month in October and at a pace just behind a 15 year high, which was hit in August.

“The Government expects the economy to grow almost 5 per cent this year – a figure greater than much of the struggling euro zone – and one that is being boosted by strong exports”.

“These figures come from the Investec Manufacturing Purchasing Managers’ Index and are particularly positive when we consider how unsettled the global situation has been.  “In tandem with this, the Irish services industry has also enjoyed another month of strong expansion, signalling that the private sector recovery here is bedding in.

“Given that manufacturing accounts for about a quarter or Irish gross domestic product, this steady increase copper-fastens Ireland’s positioning as the fastest growing economy in Europe.”