Positive Irish data is not reflected elsewhere

Earlier in the summer, we noted in an article the positive tone to a lot of indicators on the Irish economy in contrast to the weakening trend evident in most European economies.

This contrast in fortunes has been maintained over the past couple of months, with a broad range of indicators suggesting that the Irish economy is continuing to outperform.

Irish industrial output surged ahead in the second quarter, rising by 3.5% on the previous three months. This trend has extended into the third quarter as Irish industrial output rose by 1% in July and was up by 4.8% year-on-year. By contrast, industrial output has continued to fall in the eurozone and Britain, declining by 0.6% and 0.9%, respectively, in the second quarter.