Output from Irish-based factories rose by 3.9 per cent in October, on the back of increased production in the country's high-tech and chemical/pharmaceutical sectors, according to new figures from the Central Statistics Office.

The latest industrial production figures from the CSO, a key gauge of the economy’s underlying health, show output increased by 18.3 per cent on an annual basis between October 2014 and October 2015.

The modern sector, which comprises high-tech and chemical sectors showed a 3.2 per cent increase in production during October, and an annual increase of 24.5 per cent compared with October 2014.

There was a monthly decrease of 0.5 per cent in the traditional Sector for October 2015 and an annual increase of 4.4 per cent compared with October 2014.

The seasonally adjusted volume of industrial production for the three months August to October was 5.5 per cent higher than in the preceding three month period.