Ireland: Industrial output plummets in June
Latest reading: Industrial production fell 11.3% month on month in seasonally adjusted terms in June (May: +11.9% mom s.a.). June’s notable drop was largely driven by a sharp decline in modern sector output. The modern sector’s output tends to be volatile—even more so now as Trump’s tariffs wreak havoc on trade flows—due to the presence of multinational-dominated industries, such as chemicals, pharmaceuticals and computers and electronics.
On an annual basis, overall industrial production rose 12.8% in June, compared to May’s 34.5% expansion. Meanwhile, annual average industrial production growth rose to 16.3% in June (May: +13.2%). This signals an improving trend in the industrial sector.