Industrial output down 14% in August
Friday, 9 October 2009 11:52Manufacturing output was 13.9% lower in August than it was for the same month last year.
The biggest fall came in the production of computer, electronic and optical products, down 37.1%, according to the latest figures from the Central Statistics Office.
However, there was some solace in that industrial production for the three months from June to August was 3.6% higher - when seasonally adjusted - than in the previous three-month period.
Industrial turnover was 23.6% below where it was in August 2008, and was also down 12.6% between June and August when seasonally adjusted.
Alan McQuaid of Bloxham Stockbrokers said the figures showed that 'both manufacturing output and merchandise exports are holding up relatively well despite tough global conditions.'
But he added that it was multi-national activity that was mostly responsible, and that home-based industries are 'struggling big time'.
