Ireland: Industrial production gains steam in August
Latest reading: Industrial production was up 9.8% on a seasonally adjusted month-on-month basis in August, following a 0.5% rise in the prior month.
Relative to the previous month’s data, the reading for modern sector improved in August (+12.1% on a seasonally adjusted month-on-month basis vs +2.3% in July). 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. In contrast, the reading for traditional sector worsened in August (-2.2% vs -1.8% in July).
On a year-on-year basis, industrial production rose 25.0% in August, following 10.5% growth in the previous month.