Report: Industrial production back in the black
Industrial production recovered strongly in August, and now stands in positive territory for the first time since September 2004, according to a report from Goodbody Stockbrokers.
Total industrial production was ahead by 3.2% in August, well ahead of the -2.5% and -2.1% in July and June respectively.
This improvement was driven by a strong contribution by the "Modern Sector" of the economy, which accounts for just over 60% of all industrial value-add.
This area comprises the high end chemicals, electronics and software industries, and registered growth of 4.2% in August.
This is the first time the sector recorded growth in production since September 2004, as is the case with total industrial production.
