Irish manufacturing surge rallies to 18-year maximum

Irish manufacturing surge rallies to 18-year maximum

In November, surge in Ireland's manufacturing sector managed to ascend to an 18-year maximum, as a poll disclosed on Friday, with strong fresh orders at home as well as abroad, thus confounding fears Brexit would provoke a slowdown in the UK’s closest neighbor.

Ireland is generally considered to be the EU country most exposed to the UK’s decision to break up with the currency bloc, although after the muted initial hit of the Brexit vote, Ireland increased its economic surge estimates for 2017 and 2018.

The Investec Purchasing Managers' index showed that firm growth will probably continue, reaching 58.1 in November, which is its highest value since December 1999, versus October’s outcome of 54.4. It has stood above the 50 mark, traditionally separating surge from contraction for more than four years.

The expansion in the new business subindex appeared to be the fastest since 1999 and also one of the steepest in the poll’s history.

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