Ireland: Manufacturing output keeps pace in August
The highly volatile Irish manufacturing industries production index expanded 1.3% in seasonally-adjusted, month-on-month terms in August, up slightly from a revised 1.2% rise in July (previously reported: +1.3% month-on-month). Production of electrical equipment surged in the month, but the gains were offset by a drop in the output of basic metals and fabricated metal products, and food items.
In annual terms, overall industrial production plunged 6.3% in August, marking a notably faster rate of contraction than the 0.3% dip in July and the worst reading in seven months. Lastly, the annual average variation in industrial output growth slipped to 0.1% in August from 1.8% in July.