Growth at fastest rate for 20 months

THE country's resurgent manufacturing sector grew at its fastest rate for 20 months last month as stronger global economic growth boosted demand for Irish goods, according to the latest NCB Purchasing Managers' Index (PMI).

The seasonally-adjusted index picked up to 53.7 in February from 52.2 in January, with the pace of expansion at its highest since June 2002.

"Manufacturing output and new orders are now at quite elevated levels and employment has begun to grow again," said Dermot O'Brien, chief economist at NCB Stockbrokers.