The manufacturing sector grew for the eighth consecutive month in April, although the pace of expansion slowed slightly, according to new data. Edward Power reports
The NCB purchasing managers' index was 53.9 for the month, a slight dip on 54.4 for March. A reading above 50 indicates expansion.
NCB said increase in activity was driven by stronger demand in domestic and export markets. There was a knock-on effect in the labour market as employment levels climbed for the third successive month, at 50.4
Average costs continued to rise sharply according to the survey, with the input index reading 60.6. However, manufacturers raised prices only marginally, as strong competition again kept inflation in check.
Mr Dermot O'Brien, NCB's chief economist, said it was clear that manufacturing was in recovery. Although employment gains remained relatively low, they were more consistent than in the early months of the recovery.
He said: "The recovery in Irish manufacturing is consolidating, with solid growth in output being driven by strengthening domestic and foreign orders. Employment gains remain modest but are now more consistent than in the early months of recovery."
A breakdown of the data shows levels of incoming new foreign work rose for the sixth month running, and at a faster rate than the previous month.
A number of firms reported that new product ranges helped to generate fresh interest in a variety of overseas markets.
