Ireland: Industrial activity dips in May
Industrial output slid 4.9% in month-on-month seasonally-adjusted terms in May, which contrasted April’s 22.8% increase. May’s notable weakening was partly driven by a deterioration in modern sector production. In contrast, traditional sector output gained steam.
On an annual basis, overall industrial production nosedived 14.3% in May (April: +26.1% yoy). Moreover, the trend pointed down, with the annual average growth of industrial production coming in at 15.5%, down from April’s 19.5%.