Industrial production dips by 0.6pc
Published 11/08/2011 | 05:00
PRODUCTION in manufacturing industries in June was 0.6pc lower than in June last year, according to the latest figures released by the CSO.
On a three-month basis, which analysts prefer, production from April-June was just 0.1pc higher than in the preceding three month period, but 1.8pc up on the same period last year.
The annual fall was due to the 'modern' sector, comprising a number of high-tech and chemical firms, where production was 1.2pc lower than June 2010.
The 'traditional' sector, which is dominated by the food industry, was 1.1pc higher.
"Industrial production was weak in the first half of the year," said Conall Mac Coille, an analyst at Davy Stockbrokers.
"However, industrial sector value added, which contributes to Irish GDP, has been somewhat stronger than production in the recent quarter."