01.09.201702:19:00UTC+00Ireland Manufacturing Growth At 25-Month High

Ireland's manufacturing activity expanded at the fastest pace in just over two years in August, survey figures from IHS Markit showed Friday.

The seasonally adjusted Investec Purchasing Managers' Index, or PMI, rose to 56.1 in August from 54.6 in July. Any reading above 50 indicates expansion in the sector.

Both output and new orders grew at faster rates in August. Strong demand forced firms to raise their employment level for the eleventh successive month, albeit at the weakest pace since last October.

On the price front, input costs increased at an accelerated pace in August. As a result, output charges marked its sharpest rate of growth since April.

Business sentiment remained strongly positive in August, reflecting the planned launch of new products and expected improvements in demand from both domestic and export clients.