Industrial production up 1.7 per cent in month of April

Industrial production rose by 1.7 per cent in April, according to new figures from the Central Statistics Office.

On an annual basis, production increased by 9.7 per cent, the data show.

The seasonally adjusted volume of industrial production from February to the end of April was 17.4 per cent higher than in the preceding three-month period.

The ‘modern’ sector, which comprises high-tech and chemical sectors showed a 1.1 per cent decline in production during April. In the ‘traditional’ sector, there was a 4.7 per cent increase in production in the month.

There was a 5.4 per cent increase in the seasonally adjusted industrial turnover index for manufacturing industries compared to the previous month. On an annual basis, turnover rose by 22.9 per cent.

Alan McQuaid, chief economist at Merrion Capital said after a sluggish start to the year, demand for Irish goods should increase as the global economy picks up speed.

“Following last year’s impressive increase of just over 24 per ent, a further strong showing in Irish manufacturing output is forecast for this year. We expect another robust double-digit increase, which at this stage looks like once again being above 20 per cent,” he said.