Industrial output up 2.2% in April

IRISH INDUSTRIAL production rebounded in April, increasing by 2.2 per cent on March.

The seasonally adjusted volume of industrial production for manufacturing industries for the three-month period between February and April inclusive was 1.8 per cent lower than in the preceding three month period.

Output in industry has been broadly flat since last summer, albeit at high levels.

Industrial production figures are a key indicator of the health of the Irish economy given that manufacturing accounts for a larger share of total output than most other developed countries.

In April output in the chemical and pharmaceutical industry soared by almost 16 per cent month on month. This sector, which is by far the largest in terms of the value of its output, saw its highest level of output in April.

In that month the food sector also recorded an above average increase in output, growing by 2.7 per cent on March.

By contrast, the computer and electronics industry suffered a 9.5 per cent monthly decline in output in April. Production in this sector is now back to 1998 levels and is well below half of its peak, registered in 2006. The decline reflects the migration to lower cost locations of many companies’ manufacturing operations.

Separately, the number of new cars licensed in May increased by 5.2 per cent, according to figures released by the CSO yesterday.

A total of 9,359 new private cars were licensed last month, compared with 8,893 in May 2010.

Ford was the most popular choice for customers, with 1,613 new cars registered during the month, followed by Volkswagen with 1,276, Toyota which sold 1,073, and Renault with 791.

Of the total new cars sold, 24.6 per cent were petrol while 73.6 per cent were diesel.

The Government scrappage scheme is due to be phased out later this month.