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FX.co ★ Ireland Manufacturing Production Plummets 33.8%

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typeContent_19130:::2023-12-08T12:25:00

Ireland Manufacturing Production Plummets 33.8%

Ireland's manufacturing output continued to decline sharply in October, preliminary figures from the Central Statistics Office showed on Friday.

Manufacturing output plunged a seasonally adjusted 33.8 percent year-on-year in October, faster than the 28.8 percent decline in September.

On a monthly basis, output in the manufacturing sector dropped 5.2 percent from September, when it grew by 1.6 percent.

Industrial production also fell markedly by 31.4 percent in October compared to last year, following a 27.2 percent jump in the prior month.

Compared to the previous month, industrial output showed a decline of 7.0 percent in October after a 2.2 percent fall in the prior month.

During the August-October period, production in the manufacturing industries contracted by 16.9 percent compared with the previous three-month period.

The modern sector, which includes the chemical, pharmaceutical, and computer and electronics sectors, recorded an annual fall of 32.2 percent in industrial production in the period August to October 2023, while the traditional sector showed an increase of 2.9 percent.

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