Manufacturing output rises 5.3%

First-quarter GDP figures should see a positive contribution from the manufacturing sector, with latest CSO data showing a 5.3% increase in industrial production levels in February, both in monthly and year-on-year terms.

While manufacturing growth is still likely to be heavily reliant on the multinational high-tech/ pharma-driven ‘modern’ sector — which showed monthly production growth of 5.5% in February — production in the domestic economy, or ‘traditional’ sector, was also up by 3.2% in the month.

Furthermore, growing demand for Irish goods from overseas markets is expected in the coming months.