Industrial production rose at double digit pace in the twelve months to November 2005 but old economy firms continue to lag behind the IT sector.
Industrial production figures released by the CSO this morning show that industrial output rose by 14.7 per cent in the twelve months November 2005.
However the "modern sector", comprising the IT and chemical sectors showed an annual increase of 19.1 per cent, while an increase of 5.6 per cent was recorded in the "traditional" sector.
Industrial turnover which measures the level of sales of new products rose by 11.1 per cent in the twelve months to November indicating that inventories of unsold stock have increased.
In the three months from September to November 2005 production was down 1.5 per cent on the preceding three months but 3.6 per cent higher than the same period in 2004.