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Industry production slumps 12pc in Oct

Friday, December 06 12:35:56

Production for Manufacturing Industries for October 2013 was 12.1pc lower than in September 2013 and was down 7.6pc on an annual basis, latest figures from the CSO reveal.

The seasonally adjusted volume of industrial production for Manufacturing Industries for the three months August 2013 to October 2013 was 5.6pc lower than in the preceding quarter.

The "Modern" Sector, comprising a number of high-technology and chemical sectors, showed a monthly decrease in production for October 2013 of 16.7pc largely because of the so-called 2patent cliff".

There was a monthly increase of 0.3pc in the "Traditional" Sector.

There was a decrease of 4.9pc in the seasonally adjusted industrial turnover index for Manufacturing Industries in October 2013 when compared with September 2013.

On an annual basis turnover increased by 1.1pc when compared with October 2012.