Ireland: Industrial production records strong expansion in April
The highly volatile Irish manufacturing industries production index rose 9.2% over the previous month in seasonally-adjusted terms in April, contrasting a 7.4% month-on-month contraction in March. According to the Central Statistics Office (CSO), April’s reading reflected double-digit growth in production in the modern sector and a softer contraction in output of the traditional sector compared to the previous month. Paper and paper products; printing and reproduction of recorded media in the traditional sector rose by the biggest magnitude, while electrical equipment in the modern sector showed the largest downturn.
In annual terms, industrial output recorded a softer 3.8% contraction in April after a revised 9.7% drop in March (previously reported: -9.9% year-on-year). Meanwhile, annual average growth in industrial production fell to minus 1.9% in April from minus 1.0% in March.