Irish manufacturing up for 3^rd month in December (Reuters) (03-01-2011)

DUBLIN - Irish manufacturing activity rose for the third straight month in December on strong output growth and new orders, and firms hired more workers for the first time in seven months, according to a survey showed on Monday.

The NCB Purchasing Managers' Index, which measures Irish manufacturing activity, rose to 52.2 from 51.2 in November, holding above the 50 line separating growth from contraction for the third month in a row and marking the highest level since May.

Ireland is counting on strong exports as supporters to drive its economy to solid growth and reduce its deficit, which is the biggest in Europe as a percentage of GDP.

New export business expanded as well as new orders, which rose to 53.2 from 51.0 in November, the sharpest increase in seven months.

New orders rose from Asia, the Middle East and the United Kingdom in particular.

Manufacturers also took on more workers for the first time in seven months in a positive sign for Ireland, whose economy has taken a beating that forced it to accept an 85 billion euro bailout.

The number of jobless in Ireland fell for the third month in a row in November. But dole queues are still almost three times what they were during Ireland's Celtic Tiger economic boom, and they are likely to stay long as looming cutbacks bite.

Source: Reuters