Industrial production fell slightly in July

Growth in production within the Republic's manufacturing sector fell slightly in July, according to new figures.

Growth in production within the Republic's manufacturing sector fell slightly in July, according to new figures.

The latest release from the Central Statistics Office (CSO) shows that manufacturing companies produced 12.1 per cent more goods in July than a year earlier. This compares to an annual growth of 14.8 per cent in June and 26 per cent in May.

Seasonally adjusted figures point to an even greater decline, however, showing a fall in production of 19 per cent between June and July.

On a seasonally adjusted three-month view, the volume of production in manufacturing between May and July was up just 0.6 per cent on the previous period. When all industries are considered, growth was static.

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The most significant three-month rise in the overall industrial sector came in pharmaceuticals, where production grew by 46.8 per cent on a seasonally adjusted basis.

The largest falls were sustained in confectionery, down 25.8 per cent, and mining, where production declined by 17 per cent.

Unadjusted figures for industrial turnover, which measures the change in sales levels for industrial products, point to a 4.2 per cent decline on the previous three months.

Almost 8,500 working days were lost due to industrial disputes in the second quarter. The figure from the CSO was down 57 per cent on the same period in 2001. Taking the first six months as a whole, 12,110 days were lost, down from 110,133 days in the first half a year ago.

The CSO said the 2001 number was still "significantly larger", even when the impact of last year's teachers' dispute was excluded.

Úna McCaffrey

Úna McCaffrey

Úna McCaffrey is an Assistant Business Editor at The Irish Times