9th Aug 2022 11:45
(Alliance News) - Irish industrial production grew by 8.5% month-on-month in June, while the turnover index fell by 1.5%.
In June, the seasonally adjusted production index grew to 132.1 points from 121.7 the previous month. The turnover index slipped to 141.3 from 143.4.
Year-on-year, the production index grew 26% in June from 105.1, and the turnover index grew 45% in June from 97.2 the previous year.
In the second quarter of 2022, industrial production increased 4.2% against the first quarter but fell 4.9% against the previous year.
Eamonn Cleary, statistician in the Business Statistics division of the Central Statistics Office, said it was important to note that this annual decrease for the second quarter was not uniform across the industrial sub-indices.
"For instance," Cleary explained, "the Modern sector experienced a 7.1% decrease in production in this period, compared to the Traditional sector which saw an increase of 14.6%."
The Modern sector comprises the Chemical, Pharmaceutical, Computer, Electronic, Medical, and Dental sectors, while the Traditional sector is made up of all remaining industrial enterprises.
Food production increased by 8.6% in the second quarter compared to the previous three-month period.
By Heather Rydings; [email protected]
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