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Solid growth in Ireland's manufacturing sector in November

The index hit 52.8 last month, up from 50.9 in October.
The index hit 52.8 last month, up from 50.9 in October.

Operating conditions in Ireland's manufacturing sector improved in November, according to the latest AIB Purchasing Managers' Index.

The upturn was fuelled by a rise in new orders and renewed growth in production.

Optimism across the sector surged to an 11 month high, however hiring came to a near standstill.

The index hit 52.8 last month, up from 50.9 in October.

The Irish PMI remains above the flash November readings for the Eurozone, UK and US.

"Output saw renewed growth in November, with respondents citing stronger demand conditions," said David McNamara, Chief Economist at AIB.

"This was also reflected in a first rise in export orders in four months.

"Overall, new orders growth accelerated to an above average pace for the survey," he added.

The survey showed an acceleration in input and output price inflation, linked to higher raw material costs.

However, output price inflation remained close to a 17 month low.