Ireland: Industrial production improves further in July
September 8, 2016
Industrial production increased 3.7% over the previous month in seasonally-adjusted terms in July, which was below the revised 8.2% expansion recorded in June (previously reported: +7.5% month-on-month) but well above the 1.9% contraction registered in May. According to the Central Statistics Office (CSO), July’s result reflected an outstanding expansion in the modern sector which more than offset a moderate decline in the traditional sector.
In annual terms, industrial production surged 6.5% in July, which came in well above the revised 2.3% increase observed in the previous month (previously reported: +0.7% year-on-year). Meanwhile, annual average growth in industrial production slowed from 19.7% in June to 16.8% in July.