Irish manufacturing sector grows for 12th straight month in May
Irish manufacturing activity grew for a 12th successive move in May, albeit at a weaker rate, possibly reflecting a European-wide slowdown in recovery, a survey showed today. However, the latest Purchasing Managers’ Index (PMI) also indicated companies in the sector hired staff at the fastest rate in nearly 15 years, primarily as a result of increasing workloads linked to new export orders. The finding was at odds with the latest Quarterly National Household Survey, which suggested employment growth in the Irish economy had slowed significantly
The sub-index for new export orders accelerated to the fastest rate since last October, with respondents identifying the UK was the main source of new business from abroad. Increased workloads was the main factor behind another rise in employment in the sector in May, according to firms. Staffing levels have now increased throughout the past year, and the rate of job creation accelerated in the latest survey period to the strongest level since December 1999.
Meanwhile, output prices continued to fall amid strong competitive pressures, albeit the rate of decline eased from that seen in the previous month. Taken together with recent positive Services PMI and Construction PMI readings, today’s Manufacturing PMI report provides a further reminder of the strong momentum across much of the private sector in Ireland,” Investec Ireland chief economist Philip O’Sullivan said.
A series of manufacturing PMI surveys for the rest of the euro zone, published on Monday, also indicated a slowdown in growth, cranking up pressure on the European Central Bank (ECB) to stimulate the European economy when it meets on Thursday. In contrast to Europe, US and China manufacturing surveys indicated an acceleration of activity in May.
-
"A breath of fresh air. Your firm demonstrated enormous commercial understanding in turning around negotiations with a potential target vendor. I admire your style and ability to drive the deal forward. Many thanks." -
"I would like to say I'm very happy with your service, especially the audit team, your staff are always friendly, helpful and a pleasure to deal with." -
"Your business approach to clients is very impressive. I have always found that when explaining the types of service on offer, it is always concise and straight forward. The level of trust that clients place in your company and its staff speaks volumes." -
"I would like to take this opportunity to say how much we are impressed with your company's professionalism, it has been a pleasure working with you all and we look forward to working with you in the future." -
"Avid Partners - Accountants & Business Advisors are an excellent firm of accountants, their quality ethos is outstanding." -
"I have dealt with Jamie O' Hanlon, of Avid Partners - Accountants & Business Advisors Chartered Certified Accountants, for a number of years as he is auditor to one of my clients. I have always found him to be professional and responsive in his approach." -
"Service is second to none; there is always someone at the end of the phone for any business advice. The staff are very easy to get along with, very approachable and know exactly what they are talking about" -
Having got to know the company through the BNI we decided it was time to change accountant. What impressed me about Avid Partners was their professionalism. Their attention to detail was second to none and as an added bonus they are a sounding board to all of my questions. Avid also potted some irregularities in my accounts from the previous few years and saved me substantial money on the years tax bill. Avid Partners deliver a first class service which is everything you could want from an accountant and I am happy to give this endorsement. -
We at Fitzies Bar have worked with Avid Partners - Business & Financial Advisers for over five years. We find that the advice and support offered to us in addition to all of our book-keeping requirements to include payroll, VAT, etc. is invaluable and has helped to contribute to our continued growth especially in these challenging times. I would have no hesitation in recommending Avid Partners. -
Jamie and his staff are a pleasure to work with. They respond promptly to any queries we have and are critical to our financial planning and the future needs of our business. I would highly recommend them to anyone interested in accounting services. -
We at Stillorgan Cycles have used Jamie and his Team at Avid Partners – Accountants and Business Advisers for over five years. We have found that the retail advice and support offered to us is second to none and has helped to contribute to our continued growth especially in these challenging times. I would have no hesitation in recommending Avid Partners. -
I met Avid Partners through a local business networking group. We had been using the same accountants for years and found that in these harsh economic times that we were not getting good enough value or service. We were very impressed by the company's professionalism and enthusiasm and genuine interest in helping us get the most out of our business. As a result we are now clients of Avid Partners and are thrilled with our decision.
