Hopes for manufacturing pick-up

Production levels from Ireland’s manufacturing industries are expected to remain subdued for the rest of the year, but economists are still upbeat about a medium-term pick-up, despite output hitting a two-year low.

Latest industrial production data from the CSO shows that manufacturing output fell by 2.5% on a rolling month-by-month basis in March, but was down by 5.6% year-on-year.

While the so-called ‘traditional’ sector showed a monthly rise in production of 2.6%, the ‘modern’ sector — which comprises a number of hi-tech and chemical/pharmaceutical areas — fell by 4.9%.