Ireland’s manufacturing sector continued its upward trajectory in November, showing signs of growth for an 18th successive month.
The seasonally adjusted Investec purchasing managers’ index PMI posted 56.2 in November, down marginally from 56.6 in October, but still signalling a marked strengthening of business conditions in the sector.
A reading of over 50 indicates growth in the sector.
Input prices rose for the first time in four months, but manufacturers continued to lower their selling prices.
New orders extended their current sequence of growth to 17 months, although the rate of growth eased for the third successive month.
"This is a very welcome result given the softer trends emanating from the euro zone of late - with respondents crediting higher demand from the UK - helped by sterling strength – and Asia for this outturn," said Investec Ireland chief economist Philip O'Sullivan.
"Another sign of confidence is the employment index, which reveals a further sharp rise in hiring last month. More than twice as many firms are adding to head counts than are cutting staffing levels."
