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FX.co ★ Ireland Manufacturing Production Rebounds 8.2%

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typeContent_19130:::2024-07-09T11:57:00

Ireland Manufacturing Production Rebounds 8.2%

Ireland's manufacturing output experienced robust growth in May following a decline in the previous month, according to preliminary data released by the Central Statistics Office on Tuesday.

Manufacturing output surged by a seasonally adjusted 8.2% year-on-year in May, recovering from a significant 14.6% drop in April.

On a month-to-month basis, the manufacturing sector's output increased by 5.8%, rebounding from a 5.8% decrease observed in the prior month.

Industrial production also saw a recovery, with a 6.3% rise in May compared to the same month last year, after experiencing a 14.7% decline in April.

Month-over-month, industrial output increased by 6.8% in May, contrasting with a 3.4% decrease in April.

During the March-May period, production in the manufacturing industries advanced by 6.8% compared to the preceding three-month period.

The modern sector—which encompasses the chemical, pharmaceutical, and computer and electronics industries—recorded an annual growth of 5.9% in industrial production, while the traditional sector posted an increase of 11.3% over the same period last year.

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