Ireland: Manufacturing activity rebounds in February
Manufacturing output bounced back, growing 4.8% in month-on-month seasonally-adjusted terms in February, contrasting January’s 0.6% drop. Looking at the details of the release, modern sector output grew solidly in February, while traditional sector production swung back into contraction.
On an annual basis, overall industrial production jumped 40.3% in February, picking pace from January’s 28.0% rise and logging the best reading in more than five years. Accordingly, annual average manufacturing production growth rose to 11.7% in February (January: +8.0%), signaling an improving trend in the manufacturing sector.