Ireland: Output in manufacturing industries eases in May
The highly volatile Irish manufacturing industries production index rose 2.5% in seasonally-adjusted, month-on-month terms in May, following a 3.4% upturn in April.
May’s reading reflected an acceleration in the modern sector, which more than offset a swing to contraction in the traditional sector. Notably, a detailed breakdown of the industrial activities shows that production of textiles led the upturn, which more than offset slower output of transport equipment.
In annual terms, overall industrial output growth declined to 6.1% in May from 7.5% in April. Lastly, the annual average variation in industrial output rose to 2.5% in May from 2.7% in April.