According to the Markit Purchasing Managers' Index, manufacturing output in
Ireland has risen to its highest level in more than 15 years. Ireland's PMI was pushed to 57.5 in February, due to accelerated growth in both new orders and production. A figure above 50 suggests expansion, says BBC.
Overall eurozone manufacturing PMI held steady in February at 51.0. Manufacturing in the eurozone corresponded to January's figure, even though new orders rose to a seven month-high.
At the same time, lower oil prices have reduced manufacturing input costs, said Markit.
Ireland's manufacturing growth seems to be resilient, said Investec's chief economist Philip O'Sullivan, but "any uncertainty ahead of the upcoming UK election - given that Ireland's closest neighbour has repeatedly been identified by manufacturers as a key source of demand - is likely to put that to the test".
Markit also mentioned that job creation in Ireland's manufacturing sector reached its highest since May 1998.
Greece, France and Austria all saw their manufacturing sectors contract in February. France's manufacturing sector contracted to 47.6, the lowest score in the eurozone, mostly because sharp declines in output, new orders and employment weighed on the index.
"France is the most worrying, not just because it trails behind all other countries, but it is also the only country seeing a steepening downturn," said Markit's chief economist Chris Williamson.
