Update on Manufacturing Sector

Elaine Kennedy 10.07.2015

Production for Manufacturing Industries for May 2015 was 7.8% lower than in April 2015

Figures from the Central Statistics Office (CSO) show that Production for Manufacturing Industries for May 2015 was 7.8% lower than in April 2015

The is the first annual decline in 2015. It is not all bad news, according to Alan McQuaid, one of the top economist in the country, he expects that the Irish manufacturing sector should be well placed to recover from this blip and he anticipates a double digit increase this year.

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“After a sluggish start to the year, we expect the global economy to pick up speed in the coming months and demand for Irish goods in general should increase as a result, with currency developments, particularly in relation to the dollar and pound a huge plus. Ireland is better placed than most to take advantage of an upturn in the world economy, with the manufacturing PMI in expansionary territory for more than two years running up to June,” - Alan McQuaid  (Merrion Stockbrokers.)

“Following last year’s impressive increase of just over 24 per cent, a further strong showing in Irish manufacturing output is forecast for this year. We expect another robust double-digit increase, which at this stage now looks like being in the 15 to 20 per cent range.”

If you are looking for any update on the state of the Irish manufacturing sector or are curious to what areas are going through growth, please contact me on ekennedy@morganmckinley.ie or 01 4321555

Elaine Kennedy's picture
Operations Director
ekennedy@morganmckinley.ie