Ireland: Decline in manufacturing activity moderates in April
Manufacturing output fell at a softer pace of 0.5% in month-on-month seasonally-adjusted terms in April, easing from March’s 2.3% decline. Looking at the details of the release, traditional sector production swung back to expansion in April, while modern sector output tumbled at a stronger rate.
On an annual basis, overall industrial production gained notable pace, expanding 28.5% in April, jumping from March’s 2.1% increase. Accordingly, annual average manufacturing production growth rose to 11.8% in April (March: +9.6%), signaling an improving trend in the manufacturing sector.