Industrial production rebounds in September

Industrial production turned up in September after a sharp fall in August, according to new figures from the Central Statistics…

Industrial production turned up in September after a sharp fall in August, according to new figures from the Central Statistics Office.

They show that manufacturing production rose by 5.3 per cent in September and was running 5.6 per cent ahead of the same month last year.

The industrial production series has been volatile in recent months with a 16.7 per cent monthly rise in July more than reversed by a 17.3 per cent fall in August.

The rise in September has moved production back over 2003 levels, though it remains to be seen whether the upward trend can be maintained in the months ahead.

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The bounce-back in September was accounted for by the modern sector, comprising high-tech and chemical industries, where production is now running 9.5 per cent ahead of the same month last year.

In contrast, production in the traditional sector was weak in September and is now running 7.5 per cent below the same month in 2003.

The CSO figures show that manufacturing production in the July to September period was running 2.5 per cent up on the preceding three month period.