Manufacturing sector hits 15-month high

Ireland’s manufacturing sector continued to improve during July — hitting a 15-month high and comfortably outperforming the rest of the eurozone and the world, in the process.

The latest manufacturing purchasing managers’ index (PMI) from NCB Stockbrokers shows a 53.9 point reading for last month; comfortably ahead of the 50 point mark — which divides a sector in decline from one on the rise — and up on the 53.1 point reading posted in June.

July’s performance — strongly boosted by the fastest rise in new business orders for 15 months — marked the fifth consecutive month of growth in manufacturing, following eight out of nine monthly falls in business activity up to February.