Financial News: Ireland Manufacturing Output Grows Most In 18 Months

Ireland Manufacturing Output Grows Most In 18 Months

12/09/2024 - 06:48:00 (RTTNews)

(RTTNews) - Ireland's manufacturing output expanded at the quickest pace in one and a half years, preliminary figures from the Central Statistics Office showed on Monday.

Manufacturing output surged a seasonally adjusted 17.1 percent year-on-year in October, following a 1.7 percent rise in September. Further, this was the quickest increase since April 2023.

On a monthly basis, output in the manufacturing sector rebounded 5.2 percent versus a 6.4 percent fall in the prior month.

Industrial production advanced 16.3 percent in October compared to last year, much faster than the 1.8 percent gain a month ago.

Compared to the previous month, industrial output showed an increase of 5.7 percent in October versus a 5.5 percent decrease in September.

During the August-October period, production in the manufacturing industries increased by 1.4 percent compared with the previous three-month period, driven by differences in performance between the highly globalized modern sector and the traditional sector.

The modern sector, which includes the chemical, pharmaceutical, and computer and electronics sectors, recorded an annual growth of 10.3 percent in industrial production in the same period last year, and the traditional sector showed an increase of 5.3 percent.

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