Output from Irish-based factories rose 4 per cent in November, suggesting the State’s economic recovery is continuing to gain momentum.
The latest monthly production figures from the Central Statistic Office (CSO), a key gauge of the economy's underlying health, showed manufacturing output was up 33 per cent on an annual basis.
This was the fifth month running that the annual increase was above 20 per cent.
The adjusted volume of industrial production for the three-month period from September to November was 14.8 per cent higher than the preceding three-month period.
The figures show production in the “Modern” sector, comprising high-technology and chemical sectors, rose by 9.3 per cent in November.
The sub-index for “Traditional” industries, however, registered a monthly decrease of 4.4 per cent.
“Manufacturing growth will for the foreseeable future be primarily driven by industries under the ‘Modern’ or multi-national umbrella, but based on the figures for 2014 the prospects look very good for 2015,” Alan McQuaid of Merrion Stockbrokers said.
“We expect the global economy to pick up speed in the coming year helped by lower energy prices and demand for Irish goods in general should increase as a result, with currency developments, particularly in relation to the euro/dollar a huge plus.”
"Ireland is better placed than most to take advantage of an upturn in the world economy," he added.
