After more than half a year of quantitative easing (QE) manufacturing growth across the euro zone remains sluggish according to new economic data published today.

Markit's final manufacturing Purchasing Managers' Index for the currency bloc came to 52.3 for October - this was up from 52.0 in the previous month. Any figure above 50 indicates growth.

In Ireland the Investec Manufacturing Purchasing Managers' Index fell to 53.6 last month, down from 53.8 in September.

The sub-index for new orders rose to a three-month high of 56.7 off of the back of improved exports, as Irish businesses received more orders from the UK and the US.

Investec Ireland's chief economist Philip O'Sullivan commented on the results, "The indications are that manufacturing firms here remain positive on the outlook, but perhaps not as much as they did earlier in the year when the prospects for the global economy seemed stronger."

Growth in Germany's factory sector hit a three-month low in October, it dipped to 52.1 - while Greek manufacturing has continued to contract, registering a score of 47.3.

Factory growth in the UK has hit a 16 month high, beating expectations at a reading of 55.5, versus a predicted score of 51.3.