Ireland: Industrial plunges month on month in October
Industrial output plunged 10.7% month-on-month in seasonally-adjusted terms in October (September: +7.1% mom). Looking at the details of the release, modern sector output dropped in October, while traditional sector output rebounded.
On an annual basis, overall industrial production grew 55.8% in October, notably above Septembers 26.3% expansion and marking the best result since February 2021. Moreover, the trend improved significantly, with the annual average variation of industrial production coming in at minus 5.8%, up from September’s minus 9.2% reading.