Friday 24 March 2017

Production up 4pc as services stay flat

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Colm Kelpie

Colm Kelpie

Manufacturing production moved almost 4pc higher in October compared with the previous month, but the services index remained flat.

On an annual basis, industrial production surged 18.3pc in October compared with the same month last year, according to data from the Central Statistics Office.

The so-called "Modern" Sector showed a monthly increase in production for October of 3.2pc and an annual increase of 24.5pc compared with October of last year. Within that sector, the highest growth was in the Computer, Electronic and Optical Products sector.

There was a monthly decrease of 0.5pc in the more employment intensive traditional sector for October and an annual increase of 4.4pc.

But separate data from the CSO showed there was no change to the seasonally adjusted monthly services value index in the month compared with September, although there was an increase of 5.1pc in the year to October.

On a monthly basis, accommodation and food Service Activities (+3.4pc), transportation and storage (+2pc) and administrative and support service activities (+1.7pc) all increased when compared with September. Professional, scientific and technical activities (-1.9pc) and information and communication (-1.6pc) decreased.

Irish Independent

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