Ireland: Industrial production contracts in August
October 5, 2015
Industrial production shrank 1.0% in August over the previous month in seasonally-adjusted terms, contrasting the 8.8% increase tallied in July. According to the Central Statistics Office (CSO), the reading resulted from contractions in both the “modern” sector, which includes pharmaceuticals, chemicals, and high-tech, and in the “traditional” sector.
In annual terms, industrial production tallied a 14.3% expansion in August, which came in below the 21.9% increase recorded in July. Meanwhile, the trend slowed slightly, as annual average growth in industrial production moderated from July’s 21.0% growth to a 20% rise in August.