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Ireland's manufacturing sector maintains expansion in May

Xinhua, June 2, 2015 Adjust font size:

Ireland's manufacturing sector continued to expand in May, according to a survey published on Tuesday.

The manufacturing purchasing managers' index (PMI), compiled by financial group Investec, climbed to 57.1 in May from 55.8 a month earlier.

The manufacturing PMI is based on data compiled from monthly replies to questionnaires sent to purchasing executives in around 285 industrial companies.

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

"The latest Investec Manufacturing PMI report reveals a further improvement in business conditions in May," said Investec Ireland chief economist Philip O'Sullivan.

"The headline PMI rose to 57.1 from April's 55.8 and now stands at its highest level in three months. This reading also means the current sequence of growth for the sector now stretches to two years," he said. Endit