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Irish Manufacturing Production Surges 15.6%

By Midhin P.K.  ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

Ireland's manufacturing output expanded for the second straight month in August, and at an accelerated pace, preliminary figures from the Central Statistics Office showed on Wednesday.

Manufacturing output grew a seasonally adjusted 15.6 percent year-on-year in August, following an 11.3 percent strong rebound in July.

On a monthly basis, output in the manufacturing sector increased 3.5 percent versus a 0.8 percent rise in the prior month.

Industrial production advanced 12.0 percent in August compared to last year, faster than the 9.1 percent gain a month ago.

Compared to the previous month, industrial output showed an increase of 4.5 percent in August versus a 7.5 percent growth in July.

During the June-August period, production in the manufacturing industries decreased 2.6 percent compared with the previous three-month period, driven by differences in performance between the highly globalized modern sector and the traditional sector.

The modern sector, which includes the chemical, pharmaceutical, and computer and electronics sectors, recorded an annual decline of 2.4 percent in industrial production in the same period last year, while the traditional sector showed an increase of 6.9 percent.

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