Ireland: Industrial production growth slows in April
June 10, 2015
In April, industrial production tallied a seasonally- and working-day adjusted 9.4% expansion over the same month last year, which was down from the stronger 27.1% increase recorded in March. The print represented a second consecutive deceleration. According to the Central Statistics Office (CSO), the slowdown mainly reflects much softer growth in the “modern” sector, which includes pharmaceuticals, chemicals, and high-tech as well as a milder moderation in the “traditional” sector.
Industrial production rose 1.3% in April over the previous month in seasonally-adjusted terms, marking a rebound over the 9.8% decrease tallied in March. Meanwhile, the trend worsened slightly as annual average growth in industrial production fell from March’s all-time-high of 25.4% to 23.3% in April.