FX.co ★ Ireland Manufacturing Output Contracts 6.2%

Ireland's manufacturing output experienced a downturn for the first time in five months in November, according to preliminary data released by the Central Statistics Office on Thursday.

On an annual comparison, manufacturing output witnessed a seasonally adjusted decline of 6.2% in November, contrasting a notable 16.4% increase observed in October. Monthly, the manufacturing sector's output contracted by 5.2%, following a 5.0% growth recorded in the previous month.

The industrial production sector also exhibited a downturn, shrinking by 6.0% in November year-on-year, in stark contrast to the 16.4% expansion noted in October. On a month-over-month basis, industrial output decreased by 5.9% in November, further declining from a 5.0% downturn in October.

During the three-month period from September to November, manufacturing production decreased by 2.9% compared to the preceding three months.

In the 'modern sector,' which encompasses the chemical, pharmaceutical, and computer and electronics industries, industrial production grew by 3.3% over the same period last year. Meanwhile, the 'traditional sector' registered a 4.2% growth.