Ireland: Manufacturing output slides at a slightly quicker pace in June
Manufacturing output declined at a marginally sharper rate of 4.6% in month-on-month seasonally-adjusted terms in June, following May’s 4.4% slide. Looking at the details of the press release, output in the modern sector declined at a quicker pace and the traditional sector swung into contraction over the previous month.
On an annual basis, industrial production grew at a slower clip, expanding 12.0% in June, below May’s 29.2% increase. Meanwhile, annual average manufacturing production growth rose to 16.0% in June (May: +15.2% yoy), signaling an improving trend in the manufacturing sector.