Irish manufacturing expands steadily in March - PMI

DUBLIN, April 1 (Reuters) - Irish manufacturing expanded steadily in March after posting its fastest growth in 15 years in February, and employment in the sector grew at the fastest rate since 1998, a survey showed on Wednesday.

The Investec Manufacturing Purchasing Managers' Index slipped to 56.8 in March from 57.5 a month earlier. It has been above the 50 mark denoting growth for most of the past two years.

Ireland (Other OTC: IRLD - news) 's economy has rebounded strongly since it exited an EU-IMF bailout in late 2013, and gross domestic product grew by 4.8 percent last year, the fastest expansion in the European Union.

Investec Ireland chief economist Philip O'Sullivan said the weakness of the euro was a key factor for manufacturing businesses, making exports to the United Kingdom more competitive but pushing up input costs.

"If there is one area of (slight) concern at this time it is that any uncertainty ahead of next month's UK election, particularly if it impacts the currency markets, would be unhelpful," O'Sullivan said.

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