Ireland: Industrial production declines for fourth straight month in November
January 8, 2013
In November, industrial production fell a seasonally and working-day adjusted 6.2% over the same month the year before. The figure followed the 16.6% decrease observed in October (previously reported: -16.7% year-on-year). According to the Central Statistics Office Ireland (CSO), the reading mainly reflected a contraction in the so-called "modern" sector, which comprises a number of high technology and chemical industries.
On a monthly basis, industrial production fell 1.1% over the previous month in seasonally adjusted terms, which contrasted the 2.8% increase tallied in October. That said, the trend stabilized, with annual average growth in industrial production remaining unchanged at minus 2.0% in November.