TWO SEPARATE REPORTS published this morning have shown Ireland’s industrial output to be on the rise.
Figures from MarkIt Economics and NCB Stockbrokers show that the Purchasing Manager’s Index – a measure of the health of the manufacturing sector – stood at 50.9 in August.
Though that figure is down on July’s corresponding level of 53.9, it marks the sixth month in succession in which the figure has stood above 50 – though August’s level is the lowest in four months.
A figure above 50 indicates that the number of orders received has increased in comparison to the previous month.
“In spite of new order growth, manufacturers continued to work through outstanding business in August. The latest depletion of backlogs was marked, and broadly unchanged from July,” the report said.
Separate data published by the Central Statistics Office, meanwhile, showed production in the industrial sector had grown by 1.2 per cent in July compared to June – meaning a year-on-year increase of 6.4 per cent.
On a seasonally adjusted basis, production in manufacturing industries was 4.4 per cent higher than in the previous quarter, the CSO said.
The adjusted figure for industrial turnover between May and July was up by 3.7 per cent on the previous quarter, and by 6.3 per cent on the same period of 2011.
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