Industrial production rises 1%

Industrial production grew by 1% last year but slowed dramatically in the final quarter, according to data released by the CSO.

Bloxham Stockbrokers’ chief economist Alan McQuaid said, that for 2011 as a whole, manufacturing output was 1.6% higher on average than 2010, while total industrial production was up 1% over the same period.

He said the annual rates of increase were well down on those posted in 2010, when manufacturing output was up 8.3% and total industrial production 7.7%.