Production levels fell by ‘only’ 1.7%

A YEAR-ON-YEAR fall of “only” 1.7% in production levels among manufacturing and exporting firms in February, shows a certain level of resilience after a tough showing at the end of last year.

That was the view of employers group, IBEC, in light of latest industrial production and turnover figures published yesterday by the Central Statistics Office.

February’s decline followed a 0.1% annualised increase in January and a whopping 12.7% decline in December.