MANUFACTURING production fell by 5.5 per cent in the year to the end of March, new data has shown. The Central Statistics Office said yesterday that production fell 1.3 per cent on a monthly basis, while turnover was down 1.1 per cent on the year and 3.7 per cent compared to February.
The annual decline in production was most pronounced in pharmaceutical products and preparations, where it fell 8.7 per cent compared to 2010. Production of beverages was 7.6 per cent lower year on year.
The modern sector, which includes high-tech and chemical companies, was hit harder by the annual decline, falling by 7.4 per cent in March. The traditional sector was down 1.1 per cent.
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