Activity in the Irish manufacturing sector increased in March, after falling in the previous months, data from a survey by Markit Economics and the NCB Group showed Monday.
The seasonally adjusted purchasing managers' index (PMI) for the manufacturing sector rose to 51.5 in March from 49.7 in February. A PMI reading above 50 indicates expansion in the sector, while one below suggests decline.
New business received by Irish manufacturers increased at the fastest pace in a year, helped in part by new product launches. New orders in the export market grew at the fastest pace since May 2011.
Reflecting the strong growth in new orders, production increased at the fastest rate in the past eleven months.
Employment in the sector rose for the first time in three months as firms increased their workforce in line with rising workloads.
Input price inflation quickened for the fourth consecutive month amid higher fuel prices, and was the sharpest since June 2011. Meanwhile, output prices continued to fall, with competition for new business remaining intense.
by RTT Staff Writer
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