Ireland: Industrial production accelerates significantly in July
September 5, 2014
In July, industrial production tallied a seasonally- and working-day adjusted 17.5% expansion over the same month last year, which was well above the 1.5% increase tallied in June. According to the Central Statistics Office (CSO), the reading reflects a steep jump in production in the “modern” sector, which includes pharmaceuticals, chemicals, and high-tech. Output in the “traditional” sector accelerated, although not as much.
Industrial production increased 11.3% over the previous month in seasonally-adjusted terms, which contrasted the 19.9% decrease tallied in June. Meanwhile, annual average growth in industrial production increased from 8.1% in June to 10.0% in July.
Author: Carl Kelly, Economist