Irish Manufacturing Output Surges 37.4%

(RTTNews) - Ireland's manufacturing output growth quickened in February, preliminary figures from the Central Statistics Office showed on Tuesday.

Manufacturing output surged a seasonally adjusted 37.4 percent year-on-year in February, following a 13.8 percent rise in January.

On a monthly basis, output in the manufacturing sector rebounded sharply by 12.5 percent versus a 3.9 percent fall in the prior month.

Industrial production advanced 34.9 percent in February compared to last year, much faster than the 12.7 percent gain a month ago.

Compared to the previous month, industrial output showed an increase of 10.9 percent in February, in contrast to a 4.5 percent decrease in January.

During the December-February period, production in the manufacturing industries increased by 7.1 percent compared with the previous three-month period, driven by differences in performance between the highly globalized modern sector and the traditional sector. 

The modern sector, which includes the chemical, pharmaceutical, and computer and electronics sectors, recorded an annual growth of 22.3 percent in industrial production in the same period last year, while the traditional sector showed a decrease of 0.9 percent.