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Industrial production and turnover in Ireland fell year-on-year August, the Central Statistics Office said Monday.
The production index for August stood at 114.6, down from 160.0 a year prior and deteriorated from 149.3 in July.
Meanwhile, the turnover index for August declined to 114.2 from 143.8 a year ago and from 135.8 in July.
The CSO pointed out that on a monthly basis, output in manufacturing rose by 1.3% in August. However, it added that for the three months from June to August, production in manufacturing fell 11% annually.
Meanwhile, food output in the three months from June to August rose 5.6% annually.
On a seasonally adjusted basis, the production index fell to 144.2 annually in August from 202.3 a year prior but improved from 142.4 in July.
The adjusted turnover index fell to 137.7 in August from 173.7 a year prior and from 138.9 in July.
‘The scale of contract manufacturing and outsourcing in the Irish industrial economy has increased since 2015, meaning that very high levels of short-term, i.e. monthly, volatility may be present in the indices presented in this release,’ the CSO said.
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