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Financial News: Ireland Manufacturing Output Plunges In April

Ireland Manufacturing Output Plunges In April

06/08/2022 - 07:35:00 (RTTNews)

(RTTNews) - Ireland's manufacturing output contracted sharply in April, preliminary figures from the Central Statistics Office showed on Wednesday.

Manufacturing output declined a seasonally adjusted 31.6 percent year-on-year in April, much faster than the 5.5 percent fall in March. Output has been falling since October 2021.

On a monthly basis, output in the manufacturing sector decreased 13.5 percent from March, when it rose by 2.0 percent.

Industrial production also fell markedly by 28.7 percent in April compared to last year, following a 7.3 percent drop in the prior month.

Compared to the previous month, industrial output showed a fall of 9.6 percent in April, in contrast to a 1.0 percent increase in March.

Data also showed that industrial turnover edged up a seasonally adjusted 0.2 percent annually in April, while it fell 5.6 percent from a month ago.

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