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Positive News For Manufacturing In March As Weak Euro Boosts Exports

Positive News For Manufacturing In March As Weak Euro Boosts Exports

Irish manufacturing firms registered a further strong improvement in operating conditions during March. This is according to the latest Investec Manufacturing Purchasing Managers’ Index (PMI).

The manufacturing sector expanded in March after posting its fastest growth in 15 years in February.

Irish manufacturers increased their employment at a sharp pace during February, and the rate of job creation was the joint-fastest in the survey’s history, equal with the first month of data collection in May 1998.

On another positive note, Ireland has been ranked #4 out of 130 countries as one of the most resilient supply chain countries in the world. The FM Global Resilience Index is compiled annually by Oxford Metrica and ranks 130 countries and territories by factors affecting supply chain resilience.

Commenting on the index, Mike Morrissey (Director, CareerWise Recruitment) said;

“These figures are further evidence of the positive work regarding IDA Ireland attracting top class Foreign Direct Investment. We are ranked 4th behind Norway, Switzerland and Netherlands. May these trends continue”
Mike Morrissey, Director, CareerWise Recruitment

Investec Ireland chief economist Philip O’Sullivan said Irish manufacturing employment has been on the increase for almost two years now in response to improving client demand.

He also noted that the overall Input Prices index increased for the first time in three months in March, with the overwhelming reason given by panellists for this being euro weakness against both the pound sterling and the US dollar.

 

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