Manufacturing growth increases in February

Growth in the country’s manufacturing activity recovered from a nine-month low in February, extending the expansion in the sector to 12 months even as most of the eurozone continues to contract, a survey showed yesterday.

The economy returned to growth in 2011, while the slump seen elsewhere in the eurozone likely saw the export-led expansion slow to just 0.9% last year.

In February, the NCB Manufacturing Purchasing Managers’ Index rose to 51.5 from 50.3 in January, back to the level of growth seen at the end of last year, and well above the 50 line that divides expansion from contraction.