Irish manufacturing confidence high

The Irish manufacturing sector has seen a growth in confidence for the ninth straight month in May, according to the latest NCB Purchasing Managers' Index.

The seasonally adjusted index registered at 54.5 today, its highest level since 2002.

NCB said that the improved data was down to a further sharp rise in the volumes of new orders.

Strengthening demand was reported in both domestic and international markets.

NCB Chief economist Dermot O'Brien said today: "Employment in the manufacturing sector has continued to improve.

"There has also been a sharp pick-up in both input and output price inflation which is in part reflective of the impact of higher oil prices," O'Brien added.