Industry & Business

Irish Manufacturing sector expands for 29th month in a row

 Breaking News
  • Largest Ever European Investment Bank Support in Ireland The European Investment Bank is to provide a loan of €490 million to support construction of the new children’s hospital in Dublin. This represents the largest ever financial engagement by the European Union’s long-term lending institution in Ireland and the EIB’s first backing for a hospital in the country. The new children’s hospital project includes two [...]...
  • Strabane Manufacturer to Invest Over £7 Million in Ambitious Expansion Strabane-based Fabplus is planning to more than double its workforce and turnover with support from Invest Northern Ireland. The investment is part of a three year expansion plan to increase its market share in the Republic of Ireland and Great Britain, and gain a foothold in mainland Europe and Scandinavia. Recruitment is underway to employ 83 additional staff at [...]...
  • PM Group Appoints a New Non-Executive Director Michael McNicholas has been appointed as a Non-Executive Director of Project Management Holdings (PM Group), the Irish headquartered international project delivery specialists. Michael McNicholas. Michael has over 35 years’ experience in senior leadership positions in the public and private sectors. He is the former CEO of Ervia, NTR plc and Managing Director of ESB International.  During his [...]...
  • Center Parcs Signs Contract With John Sisk & Son As construction activity on the much anticipated €233 million Center Parcs Longford Forest resort in County Longford ramps up, the company has announced it has formally awarded two major construction contracts to Dublin-based construction firm John Sisk & Son. The contracts for the construction of the 470 lodges and 30 apartments as well as the state-of-the-art centre [...]...
  • Medi-Shower Invests in Innovation to Drive Export Growth Multi-award-winning manufacturer Medi-Shower has created ‘smart showerhead’ technology which can reduce the risk of Legionnaires disease. The cutting edge product, developed with R&D support from Invest Northern Ireland is designed to meet the high requirements for hygiene within the healthcare sector. It reduces the risk of waterborne infection from bacteria that can build up due to poor design [...]...

Irish Manufacturing sector expands for 29th month in a row

November 02
10:08 2015
investec

The latest PMI from Investec revealed another month of expansion for Ireland’s manufacturing sector

According to Investec’s monthly Purchasing Managers’ Index (PMI) the manufacturing industry experienced growth for the 29th month in a row.

The index revealed an improvement in business conditions within the sector for the month of October.

The rate of expansion in new orders rose to a three-month high as key sources of overseas demand helping towards the substantial growth.

Firms in the sector have also increased numbers of staff as a response to higher output requirements and while there was an increase this month the employment index showed that October was the weakest increase since December 2013.

Chief economist at Investec Ireland, Phillip O’Sullivan, said that the rate of expansion in new orders was welcomed.

“There was a welcome quickening in the rate of expansion in New Orders in October. A key factor behind this improvement was the ongoing substantial growth in New Export Orders, with a number of panelists reporting higher new business from clients in the US and UK.

“On the margin side, Output Prices declined for a fifth successive month, but the impact of this was at least partly offset by a reduction in Input Costs which is attributable to lower energy and raw materials prices.

“With employment and purchases still on the rise, albeit at a slower pace than had been seen in recent months, it would seem that Irish manufacturing firms remain positive on the outlook, but perhaps not as much as they did earlier in the year when the prospects for the global economy seemed stronger. With that being said, supportive FX moves and a more robust growth profile for the country’s key trading partners should ensure that Ireland will be more insulated from the international headwinds than most,” Mr O’Sullivan said.

About Author

admin

admin

Related Articles






New Subscriber





Subscribe Here



Advertisements
































National Manufacturing Conference & Exhibition 2016

NIBRT Springboard Success Stories



Upcoming Events

  • No upcoming events
AEC v1.0.4