Ireland: Industrial production rebounds in July
September 4, 2018
The highly volatile Irish manufacturing industries production index rose 3.3% over the previous month in seasonally-adjusted terms in July, contrasting a revised 9.4% month-on-month drop in June (previously reported: -9.5% month-on-month). According to the Central Statistics Office (CSO), July’s print reflected an upturn in the modern sector and a contraction in the traditional sector compared to the previous month. Transport equipment recorded the biggest rise, while textiles, wearing apparel and leather related products saw the largest decline.
Industrial output, in annual terms, contracted 5.4% in July, contrasting a 9.2% year-on-year expansion in June. Meanwhile, annual average growth in industrial production fell from 1.4% in June to 1.0% in July.
Author: Nihad Ahmed, Economist