A new report shows that the manufacturing sector of the economy grew at its fastest pace in more than 11 years in January.
The NCB Purchasing Managers' Index recorded 55.8, up from 52.2 in December, as production and new orders surged. The January figure was the highest since April 2000. Any figure above 50 means activity grew.
NCB said the rise in production was due to a sharp increase in new orders, but it was also influenced by an end to the severe weather conditions seen in December.
New export orders rose at the third-fastest rate in the survey's history, while employment in the sector climbed for the second month in a row, though at 51.6 this represented only a slight increase.
But costs also increased to a 29-month high of 66.7 as oil prices jumped, leading companies to increase the prices they charged. The prices charged index was up to 53.7, its highest level since September 2008.
