Growth in the manufacturing sector hit a nine-month high in June, driven by higher new order volumes, according to the latest NCB purchasing managers' index (PMI).
Output at Irish manufacturing firms increased at a marked rate last month, indicating a significant improvement in operating conditions in the Irish manufacturing sector.
At 54.0, the PMI rose to its highest level since September 2006 and was above the average for the current 46-month growth period and well above the 50.0 mark which separates growth from contraction.
The rise in the headline index was supported by improvements in the rates of expansion of output and new orders, with the latter increasing at the sharpest pace for a year, NCB said.
"The latest PMI suggests that the resurgence in manufacturing activity evident in the official data for the opening months of the year has continued, if not accelerated, into mid-year, helped by rising domestic and export orders. Moreover, the decline in manufacturing employment evident in May has proved to be short-lived," said Dermot O'Brien, chief economist with NCB Stockbrokers.
New orders recorded a 12-month high at 56.4.
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