Manufacturing activity expanded solidly in September, as firms stocked up on inventories in anticipation of a further rise in new orders in the coming months.
The Investec Manufacturing Purchasing Managers' Index fell to 55.7 in September from August's 15-year high of 57.3 but stayed far above the 50 line denoting growth.
"While the headline PMI moderated, it nonetheless signifies a solid rate of expansion. This robust order growth has had a clear impact on manufacturers' purchasing activity," commented Investec Ireland's chief economist Philip O'Sullivan.
Manufacturing accounts for about a quarter of the country's GDP, according to World Bank figures. September's data represented the 16th month of growth in a row.
Today's survey shows that the the sub-index measuring stocks of purchases accumulated by manufacturers in the month rose to 52.4 from 49.6 in August, a sign of confidence that the sector is set to grow more.
