Ireland: Industrial production expands at fastest pace in eight months
October 11, 2011
In August, industrial production expanded a seasonally and working-day adjusted 10.4% over the same month last year, which contrasted the 5.3% decline in July. The reading marked the fastest pace of expansion since December 2010 and reflected a rebound in manufacturing output, which grew 11.4% in August (July: -5.9% year-on-year). On a monthly basis, industrial production increased a seasonally adjusted 4.4% over the previous month, which was above the 1.5% increase recorded in July and confirmed the acceleration observed in the annual figures. Despite the monthly improvement, the trend was flat, with annual average growth in industrial production remaining at 5.3% in August.