Figures released this morning show that activity in the manufacturing sector grew at its fastest pace in 15 months in November.
The NCB Purchasing Managers' Index recorded 53.7, up from 53.4 in October. NCB economist Eunan King said rising output, driven by new products, appeared to be the main impetus for growth.
Export orders grew strongly, though at a weaker rate than in October, with particularly strong demand reported from the US and Spain. Employment grew again, but only marginally, with the index recording 50.9. Companies said job creation was hit by higher costs.
The costs index recorded 57.9, down from 62.1 in October, with companies reporting increases in raw materials prices and the knock-on effect of higher oil prices. Strong competition again prevented these costs being passed on, with the charges index falling to 51.2 from 53.2.
