9th Oct 2024 12:01
(Alliance News) - Production in Ireland's manufacturing sector decreased on both a quarterly and yearly basis, data from the Central Statistics Office showed on Wednesday.
Production in manufacturing industries decreased by 2.6% in the June to August period, when compared with the prior three-month period. Turnover was down by 0.4%.
The seasonally adjusted production index declined to 159.9 points from 164.3, as did the turnover index to 144.2 from 144.7.
In August, production improved by 3.5% compared with July, and rose 16% from 141.8 in August 2023. The index improved to 164.0 points in August from 158.5 in July.
The turnover index fell 7.9% to 138.7 points in August from 150.7 in July, but improved 1.6% from 136.6 the previous year.
The highly globalised modern sector, which includes the chemical, pharmaceutical, and computer & electronic sectors, experienced a decrease of 2.4% in industrial production between June and August 2024, when compared with the same period in 2023, said the CSO.
By contrast, the traditional sector experienced an increase of 6.9% from June to August 2024, compared with the same period in 2023.
The decline in production when compared with the previous three-month period was "driven by differences in performance between the highly globalised modern sector and the traditional sector", CSO added.
By Holly Beveridge, Alliance News senior reporter
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