Irish manufacturing activity increased for the 12th straight month in May, a survey revealed on Tuesday.
The Investec Manufacturing Purchasing Managers’ Index decreased to 55.0 in May from 56.1 in April, but stayed above the 50 line dividing growth in activity from contractions.
A surge in new export orders contributed to an increase in job creation in manufacturing from 54.5 to 56.4, its highest level since 1999.
Manufacturing makes up approximately a quarter of Irish gross domestic product, according to World Bank figures.
Investec Ireland chief economist Philip O’Sullivan said: “Taken together with recent positive Services PMI and Construction PMI readings, today’s Manufacturing PMI report provides a further reminder of the strong momentum across much of the private sector in Ireland.”
According to the survey, the rate of input cost inflation was marginal and output prices continued to fall amid strong competitive pressures.