New orders boost manufacturing output

Ireland’s position as the eurozone’s fastest-growing economy was underlined yesterday by data showing the country’s manufacturing sector outshone most of its counterparts last month to reach an eight-month high.

New orders boost manufacturing output

The chief barometer of the sector’s health — the monthly manufacturing purchasing managers’ index (PMI) from Investec Ireland — showed a reading of 54.9 for March; up from 52.9 in February. Anything above the neutral 50-point mark constitutes a sector in growth mode.

The rise was driven by a strong growth in new orders, while employment levels grew for the third straight month and by their fastest since last July. Investec, however, noted that the recent pace of growth is slower than that seen in 2014 and the first half of 2015.

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