New figures show that activity in the manufacturing sector of the economy grew at its fastest pace in September since July last year.
The NCB Purchasing Managers' Index recorded 54.4, fractionally higher than the 54.3 recorded in August, and well above the 50 mark which indicates no change. The index has now registered above 50 in each month for the last four years.
NCB chief economist Dermot O'Brien said manufacturing activity held up very well into the Autumn with orders rising at a strong pace and employment gains increasing. He said this resilience is heartening in light of 'less positive indications' elsewhere in Europe.
Employment at Irish manufacturers expanded for the second month in a row and at a moderate rate in September on greater demand and new product lines.
However, input costs again rose, with companies reporting higher prices in commodity markets. However, the rate of inflation eased and was the lowest since May, sending the costs index to 60.8, down from 63.5 in August. This led to an fall in the index which measures prices charged by firms for their goods to 55.7, from 56.8 the previous month.
