Ireland Sees A Growth In Manufacturing Activity

02 Aug 2013

The Irish Economy was darkened with recession late last year and early this year, but a new survey shows that there is growth in Irish Manufacturing Activity since July due to new export orders grew for the first time since February. This is much needed and much appreciated good news for the Irish Economy. The Index of Investec Manufacturing Purchasing Managers rose from 50.3 in June to 51.0 in July.

That was the first rise above the 50 line since February. Philip O'Sullivan, Investec Ireland’s chief economist said that, after the sluggish start to the year, the manufacturing sector of Ireland seems to be picking up momentum in the summer months. According to World Bank figures, Manufacturing accounts for about a quarter of Irish gross domestic product. As the economy in Britain picks up, there is a stronger demand for the increase in factory activity. O’Sullivan says the key is to see if this increased demand can be replicated and sustained across Ireland’s other important trading partners using this to boost the Irish Economy. The sub-index measuring orders from abroad jumped to 53.2 in July from 48.0 in June, above the 50 line for the first time in five months.

With the slow but study growth in the Economy of Ireland, this may be a good time to make your move about studying, working or migrating to Ireland. For further assistance click here.