The Republic's manufacturing sector expanded for the ninth consecutive month in May and grew at its fastest rate in about two years, a survey showed this morning.
The seasonally adjusted NCB Purchasing Managers' Index rose to 54.5 in May - its highest level since mid-2002 - from 53.9 the previous month.
NCB Chief Economist Mr Dermot O'Brien noted the May index's readings on manufacturing output and new orders had not been bettered since spring 2000. "In addition, employment continued to recover, albeit modestly," he said.
However, he said there had also been a sharp pick-up in both input and output price inflation in May, in part reflecting the impact of higher oil prices.
