Ireland: Industrial activity records largest year-on-year decrease on record in April
Industrial output plunged 9.6% in month-on-month seasonally-adjusted terms in April, which contrasted March’s 1.0% increase. April’s reading was partly due to a deterioration in modern sector output. In addition, traditional sector production fell.
On an annual basis, overall industrial production nosedived 28.7% in April (March: -7.3% yoy), the worst result on record. Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.3%, contrasting March’s plus 4.0% reading.