Irish manufacturing picks up pace
The manufacturing sector expanded in July, rising for the fifth month in a row as new orders picked up pace.
The seasonally adjusted NCB Manufacturing PMI, which provides a measure of the health of the industry, was 53.9 last month, in July.
“The index has now risen in each of the past three months, pointing to progressively stronger improvements in operating conditions,” NCB said.
Growth in new orders hit a 15-month high at 55.8 and new export orders showed a significant surge at 56.7.
The growth led to a rise in employment, the fifth month in a row that the sector has expanded in this area.
Output prices fell in July, with the index recording a reading of 47, and input costs also fell for the month, easing price pressures for businesses. Lower commodity prices were behind the decline in input costs, the survey found.
“Firms were able to pass on lower input costs to clients over the month, while strong competition also contributed to a solid fall in prices charged,” NCB said.