Ireland: Manufacturing activity contracts in April
June 8, 2020
According to preliminary data, manufacturing production contracted 7.6% month-on-month in seasonally-adjusted terms in April, contrasting March’s 16.4% expansion.
The reading largely reflected a sharp drop in output in the traditional sector, while activity in the modern sector—which includes the manufacture of chemicals and pharmaceuticals, computer and electronical equipment, medical and dental instruments, as well as the reproduction of recorded media—also declined.
On an annual basis, overall industrial output grew 4.7% in April, which was significantly below March’s 23.6% expansion. Accordingly, annual average manufacturing production growth fell to 4.7% in April (March: +4.8%), signaling a worsening trend in the manufacturing sector.
Author: Hanna Andersson, Economist