Ireland: Manufacturing activity notches quickest growth since November 2020 in July
Manufacturing production increased 7.6% month-on-month in seasonally-adjusted terms in July (June: -4.2% mom). July’s figure marked the strongest expansion since November 2020. Looking at the details of the release, modern sector production returned to growth in July, while traditional sector output also climbed grew at a stronger mild pace.
On an annual basis, overall industrial production rose at a quicker rate of 15.6% in July (June: +12.0% yoy). Meanwhile, the trend pointed up, with the annual average growth of manufacturing production coming in at plus 15.9% in July, down from June’s 15.6% reading.