Chemical sector ‘to blame for 5.8% dip’

THE hi-tech and chemical sectors have been blamed for the overall 5.8% year-on-year drop in overall industrial production for February - details of which were published by the Central Statistics Office yesterday.

“Production in the ‘modern sectors’ - which include the chemical and computer industries - fell by a massive 21.7% in February on a month-by-month basis, according to the data.

“Production in this area has been particularly volatile around the turn of the year, given that the latest reading comes after a 16.7% month-by-month increase in January.