Ireland: Manufacturing output rebounds in July
The highly volatile Irish manufacturing industries production index rebounded from a revised 9.9% contraction in seasonally-adjusted, month-on-month terms in June (previously reported: -9.0% month-on-month) to a 1.3% expansion in July. A surge in the production of electricity equipment led the turnaround, followed by a strong rise in the output of food products, although a sharp fall in wood and wood products, except furniture, curbed the scale of the upturn.
In annual terms, overall industrial production fell 0.8% in July, a softer drop than June’s 3.3% contraction. Lastly, the annual average variation in industrial output growth edged up to 1.7% in July from 1.5% in June.