‘Reasons to be cheerful’ as Irish output surges

Sterling has jumped against the euro on evidence the UK currency’s Brexit-driven slump had helped boost British factories, while Irish factories too appear to have weathered their Brexit troubles to post a strong rise in output last month.

The latest Investec Ireland survey of purchasing managers in Irish factories showed output jumped in December from November and expanded at its fastest pace since late spring in 2015, suggesting that “the worst of the pressure seen in the aftermath of the UK’s Brexit vote has passed,” Philip O’Sullivan, chief economist at the bank, said.

Activity in Irish factories has now returned to something of the rude health before the UK voted in June to quit the EU.