Ireland: Industrial production contracts in October but trend remains positive
December 10, 2010
In October, industrial production dropped a seasonally adjusted 4.8% over the previous month, which contrasted the 7.8% expansion registered in September (previously reported: +7.9% month-on-month). The slowdown over the previous month was mainly the result of weaker manufacturing output, which plunged 5.5%, contrasting the 11.2% increase recorded in September. On an annual basis, industrial production expanded 7.8% in October, which was down from the 10.7% expansion registered in September. Despite the negative October reading, the trend continues to point upwards, with annual average growth in industrial production improving from 2.1% in September to 3.0% in October.