Ireland: Industrial activity dips in January
Latest reading: Industrial production fell 3.9% month on month in seasonally adjusted terms in January (December: +8.1% mom s.a.). The reading was largely driven by a deterioration in the modern sector, whose output tends to be volatile due to the presence of multinational-dominated industries, such as chemicals, pharmaceuticals and computers and electronics.
On an annual basis, overall industrial production rose at a quicker rate of 11.6% in January (December: +7.5% yoy). Moreover, the trend improved significantly, with the annual average variation of industrial production coming in at minus 2.4% in January, up from December’s minus 5.5% reading.