Financial News: Ireland Manufacturing Production Plunges 18.9%

Ireland Manufacturing Production Plunges 18.9%

08/09/2024 - 09:52:00 (RTTNews)

(RTTNews) - Ireland's manufacturing output decreased sharply in June after rebounding in the previous month, preliminary figures from the Central Statistics Office showed on Friday.

Manufacturing output fell a seasonally adjusted 18.9 percent year-on-year in June, reversing a 6.1 percent increase in May.

On a monthly basis, output in the manufacturing sector declined 4.6 percent, in contrast to the 6.8 percent rise in the prior month.

Industrial production fell 17.2 percent in June compared to last year, after a 4.5 percent gain a month ago.

Compared to the previous month, industrial output showed a decline of 7.8 percent in June versus a 5.5 percent drop in May.

During the April-June period, production in the manufacturing industries advanced 6.2 percent compared with the previous three-month period.

The modern sector, which includes the chemical, pharmaceutical, and computer and electronics sectors, recorded an annual decline of 13.6 percent in industrial production in the same period last year, while the traditional sector showed an increase of 11.1 percent.

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