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Financial News: Ireland Manufacturing Output Grows Sharply In September

Ireland Manufacturing Output Grows Sharply In September

11/09/2022 - 09:22:00 (RTTNews)

(RTTNews) - Ireland's manufacturing output expanded markedly at the end of the third quarter, preliminary figures from the Central Statistics Office showed on Wednesday.

Production in the manufacturing industries climbed a seasonally adjusted 31.3 percent year-on-year in September, much faster than the 9.1 percent rebound in August.

On a monthly basis, manufacturing output advanced 14.1 percent from August, when it rose by 15.1 percent.

Total industrial production was 28.8 percent higher in September compared to last year, after a 7.3 percent growth in the prior month. This was also the second successive monthly increase.

The increase in industrial output largely reflects increases in export manufacturing activity and contract manufacturing in the multinational sectors, the agency said.

Month-on-month, industrial production rose at a slower pace of 11.9 percent in September, following a 19.6 percent surge in August.

Data also showed that the industrial turnover gained 5.3 percent monthly in September, while it jumped 41.1 percent from a year ago.

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