Irish factories boost output

The outlook for output and jobs at Irish manufacturers looks rosy, with demand in the UK and in the rest of the world likely to drive demand in factories through the rest of the year, a major survey of purchasing managers has revealed.

The Investec Purchasing Managers’ Index (PMI) found that the surge in sterling after the Westminster election delivered a huge boost to Irish exporters last month that helped drive output from factories to a nine-month high.

The benefit of a weak euro against sterling for Irish manufacturers is unlikely to fade any time soon, economists predict.