Financial News: Ireland Manufacturing Production Plunges 14.5%

Ireland Manufacturing Production Plunges 14.5%

06/10/2024 - 08:44:00 (RTTNews)

(RTTNews) - Ireland's manufacturing output declined in April after recovering sharply in March, preliminary figures from the Central Statistics Office showed on Monday.

Manufacturing output plunged a seasonally adjusted 14.5 percent year-on-year in April, reversing a 32.8 percent surge in March.

On a monthly basis, output in the manufacturing sector dropped 5.7 percent versus a 15.8 percent growth in March.

Industrial production also fell markedly by 14.7 percent in April compared to last year, in contrast to a 34.7 percent strong recovery in the prior month.

Compared to the previous month, industrial output showed a decrease of 3.4 percent in April after a 10.4 percent increase in the prior month.

During the February-April period, production in the manufacturing industries contracted 12.7 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 16.6 percent in industrial production in the same period last year, while the traditional sector showed an increase of 13.1 percent.

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