Manufacturing firms see orders rise

Manufacturing firms have reported their first increase in new orders in five months, as the overall sector continues its summer recovery.

The latest edition of the monthly purchasing managers’ index, from Investec Ireland, shows a reading of 51 points for July, the second consecutive month where progress has been reported in the sector. Anything above the neutral 50-point mark signifies growth, and July’s reading follows on from the 50.3 posting in June (itself up from 49.7 points in May).

“The latest report shows that activity in the Irish manufacturing sector expanded at a relatively quicker pace in July, aided by a spell of unusually hot weather and stronger demand from the UK,” noted Investec Ireland’s chief economist, Philip O’Sullivan.