A survey has shown that growth in the manufacturing sector hit a nine-month high last month.
The NCB Purchasing Managers' Index (PMI) rose to 54 in June from 51.9 in May - its highest level since September 2006 and well above the 50 mark which separates growth from contraction.
New orders hit a 12-month high in June at 56.4, up from 53 in May. The employment component of the index remained subdued at 50 but recovered from 47.9 in May which was its worst reading since July 2003.
At 51.2, new export orders grew for the first time in three months after dropping below 50 in both April and May. A number of those surveyed pointed to improved demand from Asia.
Dermot O'Brien, chief economist at NCB, said the PMI suggested a resurgence in manufacturing activity seen in official data for early 2007 had 'continued if not accelerated into mid-year, helped by rising domestic and export orders'. He added that a decline in employment had proved to be short-lived.
