Ireland’s industrial production fell in the three-month period between June and August, new data from the Central Statistics Office (CSO) shows, although there was a rise during August.
The latest figures show a decline of almost 1 per cent year-on-year when compared with the same period in 2023, and 2.6 per cent compared with the preceding three months.
There was a decline in the modern sector, which fell 2.4 per cent year-on-year. That sector includes the State’s big pharma, chemical, pharmaceutical, and computer and electronic sectors, all of which are highly globalised.
The sector previously recorded a 6 per cent rise in turnover.
Meanwhile, the traditional sector saw production rise by close to 7 per cent during the same period.
On a monthly basis, production in manufacturing industries rose by 3.5 per cent in August 2024.
Between June and August, turnover in manufacturing industries fell 0.4 per cent compared to the preceding period.
“The CSO recommends that analysts take a longer-term view of the indices because of the variability that can occur within the given months of a quarter,” said Colin Cotter, statistician in the Enterprise Statistics Division.
Industrial production figures here are also more volatile due to a large level of contract manufacturing, where a company outsources production to a third party.
- Sign up for the Business Today newsletter and get the latest business news and commentary in your inbox every weekday morning
- Opt in to Business push alerts and have the best news, analysis and comment delivered directly to your phone
- Join The Irish Times on WhatsApp and stay up to date
- Our Inside Business podcast is published weekly – Find the latest episode here
