Europe > Northern Europe > Ireland > Ireland Manufacturing Output Registers Strong Growth For Second Month

Ireland: Ireland Manufacturing Output Registers Strong Growth For Second Month

2014/10/07

Ireland's factory output grew at a solid annual pace for the second straight month, figures from the Central Statistics Office revealed Tuesday.

Manufacturing output increased a seasonally adjusted 21.2 % year-on-year following 21.1 % increase in the previous month. In June, production grew just 2 %.

In general industrial production rose 19.7 % annually in August next 19.4 % increase in the previous month.

Month-on-month, factory output declined 2.3 % in August following 14.1 % jump in July. Industrial production fell 1.6 % next a 13.2 % gain in the previous month.

The new Markit/Investec purchasing managers' index had shown that the manufacturing sector expanded at a slower rate in September. The sector, however, expanded for the sixteenth consecutive month.

The economy grew for the second consecutive quarter in the three months to June with the gross domestic product expanding 1.5 %.

Last week, the central bank raised the country's 2014 increase estimate to 4.5 % from 2.5 % predicted before. The projection for next year was lifted to 3.4 % from 3.3 %.

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