Manufacturing activity grows for third month

IRISH manufacturing activity grew for the third straight month in December on strong output growth and new orders, and firms hired more workers for the first time in seven months, a survey showed yesterday.

The NCB Purchasing Managers’ Index, which measures Irish manufacturing activity, rose to 52.2 from 51.2 in November, holding above the 50 line separating growth from contraction for the third month in a row and marking the highest level since May.

Ireland is counting on strong exports to help drive its economy to solid growth and reduce its deficit, which is the biggest in Europe as a percentage of GDP. New export business expanded as well as new orders, which rose to 53.2 from 51.0 in November, the sharpest increase in seven months. New orders rose from Asia, the Middle East and Britain in particular.