Industrial production up 3.1pc in October - CSO
Published 04/12/2012 | 12:09
Industrial production increased by 3.1pc in October from the previous month, the Central Statistics Office said today.
The rise took most economists by surprise.
Last month, the CSO announced that industrial output fell 13.9pc in September on declines in the pharmaceutical sector as some drugs made here came off-patent.
While production rose in October, the figures are often swing wildly from month to month.
On an annual basis, which smoothes out some of these swings, production for October 2012 was down 17.9pc when compared with October 2011. The seasonally adjusted volume of industrial production for the manufacturing sector for the three months to October was 9.1pc lower than in the previous three months. Most of the falls were recorded in the so-called modern sector which involves output from multi nationals. Production here fell 7pc compared to 0.8pc in the traditional sector.