Ireland: Industrial production expands for the fourth straight month in June
August 10, 2012
In June, industrial production increased a seasonally and working-day adjusted 9.2% over the same month last year, which doubled the 4.6% expansion observed in May (previously reported: +4.3% year-on-year) and marked the fourth consecutive monthly rise. In fact, the reading represented the strongest expansion in industrial production in eight months. According to the Central Statistics Office Ireland (CSO), the reading mainly reflected an increase in the so-called "modern" sectors, which include a number of high technology and chemical industries. On a monthly basis, industrial production rose a seasonally adjusted 2.7% over the previous month, which was above the 1.5% increase tallied in May. Finally, annual average growth in industrial production rose from 0.6% in May to 1.8% in June.