Ireland's manufacturing grows at 15-year high

Ireland's manufacturing activity in August grew at its fastest pace since 1999, according to latest data unveiled on Monday.

The latest Irish manufacturing purchasing managers' index, compiled by Investec, showed a marked improvement in the health of the Irish manufacturing sector was recorded in August as output and new orders each rose at sharper rates.

The index rose to 57.3 in August from 55.4 in the previous month, and signalled the sharpest monthly improvement in operating conditions since December 1999, according to Investec.

Investec is a leading international, specialist-banking group with headquarters in Johannesburg, South Africa.

"This is a strong outcome, particularly when framed against the backdrop of weakening signs from some Eurozone trading partners of late," said Investec Ireland Chief Economist Philip O'Sullivan.

"With manufacturing firms in Ireland stepping up their purchasing and hiring activity, it is clear that they are optimistic of a strong finish to the year," he said. Enditem