Ireland: Industrial production contracts in September
November 10, 2015
Industrial production shrank 2.8% in September over the previous month in seasonally-adjusted terms, contrasting the flat reading tallied in August (previously reported: 1.0%). 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 20.1% expansion in September, which came in above the 16.0% increase recorded in August (previously reported: +14.3% year-on-year). Meanwhile, the trend eased slightly, as annual average growth in industrial production moderated from August’s 20.2% growth to a 19.9% rise in September.