Ireland: Industrial production returns to growth in July
Latest reading: Industrial production increased 0.6% on a seasonally adjusted month-on-month basis in July, following a 11.9% decline in the prior month.
Relative to the previous month’s figures, the reading for the modern sector improved in July (+2.1% vs -13.3% in June). 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 the traditional sector worsened in July (-0.5% vs +0.5% in June).
In annual terms, industrial production was up 10.3% in July, following a 11.2% fall in the prior month.