Ireland: Industrial output deteriorates in January
Industrial production dropped 3.1% month-on-month in seasonally-adjusted terms in January (December: +6.1% mom). The figure was partly driven by a deterioration in modern sector output. In contrast, traditional sector output rebounded.
On an annual basis, overall industrial production declined 19.6% in January, which was notably below December’s 8.5% fall. Accordingly, annual average industrial production growth fell to 11.8% in January (December: +18.1%), signaling a worsening trend in the industrial sector.