Ireland: Industrial production registers second consecutive month of double-digit growth in April
June 5, 2014
In April, industrial production climbed to a seasonally- and working-day adjusted 10.6% expansion over the same month last year, which followed the 10.2% increase tallied in March and marked the largest gain in seven months. According to the Central Statistics Office (CSO), the reading reflects notably high growth in the “modern” sector, which includes chemicals, high-tech and pharmaceuticals. Meanwhile, output in the “traditional” sector was modest.
On a monthly basis, industrial production expanded 2.1% over the previous month in seasonally-adjusted terms, which was down from the 5.1% increase tallied in March. Meanwhile, annual average growth in industrial production increased from 0.4% in March to 1.4% in April.
Author: Carl Kelly, Economist