Ireland: Industrial production growth speeds up to record-high in March
May 6, 2015
In March, industrial production tallied a seasonally- and working-day adjusted 41.5% expansion over the same month last year, which was up from the 39.8% increase recorded in February. The print represented a second consecutive acceleration and the largest annual expansion on record. According to the Central Statistics Office (CSO), the pickup reflects increased production in both the “modern” sector, which includes pharmaceuticals, chemicals, and high-tech and in the “traditional” sector.
Industrial production rose 3.0% in March over the previous month in seasonally-adjusted terms, marking a significant slowdown over the stronger 24.5% increase tallied in February, which had represented the largest gain on record. Meanwhile, the trend continued to improve as annual average growth in industrial production rose from 22.7% in February to 25.0% in March, tallying the best reading on record.