Output fall ‘no cause for concern’

NOVEMBER saw a 10.3% monthly drop in production levels from Ireland’s manufacturing sectors — a sharp downturn from the 7% growth seen in October and well down on the 8% growth projections from some economists.

According to the latest industrial production data, published yesterday by the CSO, production fell by 3.4% on a year-on-year basis. The so-called “modern” sector — which comprises various high-tech and chemical industries — fell by nearly 14% and the “traditional” sector saw a 1.7% fall.

Commentators, however, refused to read too much negativity into the latest figures.