Ireland: Industrial output rebounds in August
Industrial production expanded 6.1% month on month in seasonally adjusted terms in August (July: -9.0% mom). The rebound was largely driven by a notable rebound in modern sector output. In contrast, traditional sector output lost steam.
On an annual basis, overall industrial production nosedived 25.8% in August (July: -2.5% yoy), the worst result on record. Moreover, the trend pointed down, with the annual average growth of industrial production coming in at 6.2% in August, down from July’s 13.0% reading.