Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Industrial production in Ireland saw a modest increase in the three months to July, according to official data on Friday.
On a monthly basis, industrial production in July fell 13% from June, according to the Central Statistics Office, after it had surged 25% in June from May.
However, given the monthly volatility in the industry, the CSO recommends comparing figures over three-month periods. Over May to July, production rose 1.7% from the period from February to April.
‘The ’Modern’ sector, which includes the Chemical, Pharmaceutical, and Computer & Electronic sectors, recorded no change (0%) in industrial production in the period May to July 2023 when compared with the previous three-month period. Meanwhile, the ’Traditional’ sector, which is made up of all remaining enterprises, recorded a moderate increase of 3.4% over the same period,’ said CSO statistician Eamonn Cleary.
Last month, CSO figures showed the April to June period saw a 4.0% contraction from the January to March period.
Annually in the month of July, production was 4.3% behind its 2022 levels, after rising 6.7% year-on-year in June.
‘In general, it should be noted that the results presented in this release reflect contract manufacturing activity in the multinational sectors,’ Cleary added.
Copyright 2023 Alliance News Ltd. All Rights Reserved.