Figures released this morning show that the Irish manufacturing sector grew for the second month in a row in October.
NCB Stockbrokers' Purchasing Managers' Index recorded 52.4 in October, up from 50.4 in September and the highest figure since July 2002. Any figure over 50 signals growth.
NCB economist Dermot O'Brien said the index provided clear evidence that recovery in the sector was becoming more solid. He noted that manufacturing employment rose slightly for the first time in 14 months.
New business rose for the second successive month, while new orders grew at their fastest pace since July last year.
Costs for businesses rose again, though at a slightly slower pace than September, while average prices charges by firms rose for the first time since March.
