Ireland: Manufacturing output tumbles at quicker rate in May
July 7, 2021
Manufacturing output slid at a sharper rate of 4.5% in month-on-month seasonally-adjusted terms in May, below April’s 0.2% decline. Looking at the details of the release, the traditional sector production swung back to contraction in May, while the modern sector output fell at a quicker pace.
On an annual basis, industrial production grew at a quicker pace, expanding 29.9% in May, following April’s 28.2% rise. Moreover, annual average manufacturing production growth rose to 15.2% in May (April: +11.8% yoy), signaling an improving trend in the manufacturing sector.
Author: Alexandros Petropoulos,