Sharpest rise in manufacturing output in Ireland for 18 monthsStaff Writer | February 3, 2017
The Irish manufacturing sector remained comfortably in growth territory during the opening month of 2017, with both output and new orders increasing at sharper rates.
Ireland Investec Manufacturing PMI Ireland
Meanwhile, the rate of input cost inflation quickened to the sharpest since October 2012 and firms raised their output prices at a solid pace.
The seasonally adjusted Investec Purchasing Managers’ Index(PMI) – an indicator designed to provide a single-figure measure of the health of the manufacturing industry – posted 55.5 in January, broadly unchanged from the reading of 55.7 in December and thereby signalling a further sharp monthly improvement in the health of the sector.
Central to the latest improvement in business conditions was a sharp and accelerated increase in new orders at manufacturing firms. The rise in new work was the sixth in as many months and the strongest since July 2015. Meanwhile, new business from abroad also increased sharply. ■