Irish manufacturing activity expanded for the ninth straight month in February, with the economy building up some steam after completing its EU/IMF bailout on December 15, a new survey showed on Monday.
The Investec Purchasing Managers’ Index (PMI) nudged up to 52.9 in February from 52.8 in January and remained well above the 50 line dividing expansion from contraction. That put Ireland just ahead of the 52.7 flash reading recorded for the Eurozone as a whole last month.
Meanwhile, the sub-index measuring employment rose to 54.9 from 53.9 in the previous month, and was also in positive territory for the ninth month running.
<b><i>The manufacturing PMI is the latest evidence that the Irish economy is on the road to recovery, with European Commission forecasts last week forecasting it as one of the strongest within Euroland in 2014.
Merrion Stockbrokers Limited (registration no. 307878)
is a limited liability company whose registered office is at
Block C, The Sweepstakes Centre, Ballsbridge, Dublin 4, Ireland.