Manufacturing grows for eighth month in a row

There was further good news for Ireland’s manufacturing sector in January, as the sector grew for the eighth month in a row, albeit at a slightly slower pace than that recorded in December.

The Investec Manufacturing Purchasing Managers' Index stood at 52.8 in January, down from 53.5 in December, but still well in the expansion zone. While production growth slowed in January, new orders remained relatively robust, with improved demand reported from both domestic and export customers. The UK market was again highlighted as a source of particular strength.

“Today’s report represents a solid, if unspectacular, start to 2014 for the manufacturing sector. Broadly speaking, with activity having grown in every month since June 2013, the underlying trend remains intact,” said Investec Ireland chief economist Philip O’Sullivan.

January’s manufacturing data showed employment grew across all three groups of investment, intermediate and consumer goods. The PMI sub-index measuring employment rose to 53.9 from 52.8 in December and has also grown for eight months in a row.