Ireland: Industrial output bounces back in November
Industrial output rose 0.9% in month-on-month seasonally adjusted terms in November, which contrasted October’s 7.1% decrease. November’s notable rebound was primarily driven by recoveries in modern sector and traditional sector output. The modern sector includes the chemicals, pharmaceuticals, computer and electronics industries, which are typically volatile due to the strong presence of multinational firms.
On an annual basis, overall industrial production nosedived 29.9% in November (October: -31.7% yoy). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 11.9% in November, down from October’s minus 6.2% reading.