The country's manufacturing sector showed the strongest growth in June for almost two years. This continues a trend that began five months ago, according to the latest NCB Purchasing Managers Index.
June's PMI, compiled by NCB Stockbrokers, recorded a value of 54.5 for June, up from 52.3 in May. It remained above the critical no change mark of 50 for the fifth consecutive month.
The PMI figures amounted to a 'very encouraging report since the overall index as well as output and orders are now back up to levels not seen since the economy was growing very strongly in 2000,' Eunan King, NCB's senior economist, said.
'Moreover, this is not an inventory rebuilding bounce since stocks remain flat. Rather, growth appears sustainable being based on improved business conditions, new product lines and increased marketing activity,' he added.
* For the third month running Reuters Eurozone Purchasing Managers' Index edged further above the 50 line that divides growth from contraction, rising to 51.8 in June from 51.5 in May.
