Industrial output up 5.9pc in 12 months to June
INDUSTRIAL production in the Republic rose in June, and was higher than the same month last year, but the second quarter of 2010 was weaker than the first period, new figures released by the Central Statistics Office show. Output rose by 5.9pc in the 12 months to the end of June and the volume of production was 1.2pc higher than in May.
However, the contrast between the "modern" sector -- mainly foreign-owned technology and chemical industries -- and the "traditional" sector widened in June.
Modern industry recorded a monthly rise of 1.6pc while traditional production fell 1.8pc.
On the 12-month basis, the traditional sector outpaced the modern with a 7.5pc rise in production compared with 4.9pc in the modern.
Although most traditional industries recorded declines in the 12 months to May, there was a 5pc increase in dairy production, 5.7pc in grain and feeds, and a 15pc increase in production of general machinery and equipment noted in the figures. A 5pc fall in output from the giant pharmaceutical sector was the main reason behind the 3.6pc decline in production in the second quarter compared to the first three months of the year, provisional CSO estimates show.
Seasonally adjusted turnover for manufacturing industries was 5.8pc higher in the second quarter compared to the first three months of the year and was 1.6pc up on the same quarter last year.