Ireland: Industrial production maintains high growth rate in August
October 7, 2014
In August, industrial production tallied a seasonally- and working-day adjusted 19.8% expansion over the same month last year, which was just above the 19.4% increase tallied in July. According to the Central Statistics Office (CSO), the reading reflects an almost 30% annual increase in production in the “modern” sector, which includes pharmaceuticals, chemicals, and high-tech. Output growth in the “traditional” sector decelerated, and remained in the single digits.
Industrial production decreased 1.6% over the previous month in seasonally-adjusted terms, which greatly contrasted the 13.3% increase tallied in July. Meanwhile, annual average growth in industrial production increased from 10.1% in July to 12.4% in August.
Author: Carl Kelly, Economist