Industrial production up by 9.5% from previous quarter

Despite a significant quarterly increase, industrial production fell by 4.4% on an annual basis, according to the figures released by the Central Statistics Office

Production in the traditional sector from May to July was 11.8% greater than during the same three-month period in 2021. 

Production in manufacturing industries increased by 9.5% in the three months from May 2022 to July 2022, compared with the previous three-month period.

Despite this significant quarterly increase, industrial production fell by 4.4% on an annual basis, according to the figures released by the Central Statistics Office (CSO).

However, the annual decline in production was not present across all sectors. Production in the traditional sector from May to July was 11.8% greater than during the same three-month period of 2021. 

Meanwhile, industrial production in the modern sector declined by 6.9% on an annual basis.

The modern industrial sector is made up of the chemical, pharmaceutical, computer, electronic, medical, and dental sectors.  The traditional sector is comprised of all remaining industrial enterprises.

Quarterly increase of 9.5% in industrial productionhttps://t.co/WZnMno4WZR#CSOIreland #Ireland #IrishBusiness #BusinessStatistics #IndustrialProduction #Manufacturing #IndustrialTurnover #Business #BusinessNews pic.twitter.com/fZDDgpbbgc

— 🎄Central Statistics Office Ireland (@CSOIreland) September 8, 2022

As worries about Europe's energy supply rose and climate change resulted in record high temperatures, the CSO recorded a 17.6% quarterly increase in production in the electricity, gas, steam and air conditioning sector.

The manufacturing industries also experienced a rise in turnover, which was up 12.5% in the three months from May to July compared to the previous quarter.

Earlier this week, the CSO reported that the volume of production in the construction industry declined by 4.5% on a quarterly basis in the three-month period between April and June.

However, the figures also showed that there had been a 3.2% annual increase in construction volume recorded.