Irish manufacturing marks year and a half of growth in Nov

Irish manufacturing activity increased for the 18th month in a row in November as exporters saw new orders flood in at the fastest rate in almost four years, a survey showed on Monday.

Ireland last year became the first bailed-out euro zone country to exit its international assistance programme. The government is forecasting growth of almost 5 percent this year, which would likely make it the best-performing economy in the 18-member bloc.

The Investec Manufacturing Purchasing Managers’ Index stood at 56.2 in November, down from 56.6 a month earlier but comfortably above the 50 mark that indicates growth and not far short of the 15-year high of 57.3 in August.

While growth in new orders slowed for the third successive month after August’s peak, the sub-index measuring new export orders jumped to 59.3 from 54.8 in October to mark its highest reading since February 2011.

“This is a very welcome result given the softer trends emanating from the eurozone of late – with respondents crediting higher demand from the UK – helped by sterling strength – and Asia for this outturn,”

“Another sign of confidence is the Employment index, which reveals a further sharp rise in hiring last month. More than twice as many firms are adding to headcounts than are cutting staffing levels.”

Investec Ireland chief economist Philip O’Sullivan

Article: Reuters

Mike Morissey

(Director) MRGC, MRMC, MCIPD – Cork Office

Mike Morrissey has extensive knowledge of production, quality and engineering, having worked for Dell, Creative Labs and Tyco Safety Products /Sensormatic.

His expansive operational experience is grounded with training as a Six Sigma Black Belt.

As a lead auditor, he is very familiar with compliance and quality standards and has project managed the implementation of the environmental standard ISO14001. He has successfully utilised his project management and team leading skills in implementing numerous cost-saving and process improvement projects.

Since joining CareerWise Recruitment, Mike has graduated with a Diploma in Personnel Management from UCC and is a Chartered member of the CIPD.

Tags: