Manufacturing output falls amid concern over Brexit impact
CSO statistics point to annual fall of 3.2 per cent in production in September
The latest figures from the CSO showed production on a monthly basis was 0.4 per cent higher in September. Photograph: Qilai Shen/Bloomberg
Irish manufacturing output fell by 3.2 per cent on an annual basis in September amid concerns over the impact of Brexit on exports.
The latest figures from the Central Statistics Office (CSO) showed production on a monthly basis was 0.4 per cent higher in September.
The “modern” sector, comprising high-tech and pharma companies, recorded a monthly increase in production of 0.2 per cent and an annual decrease of 2.3 per cent.
However, there was a monthly decrease of 1.1 per cent in the “traditional” sector and an annual decrease of 10.4 per cent.
“There have been worries about the fall in sterling against the euro since the Brexit referendum and its potential negative impact on the industry’s exports, of which just under a half go to the UK,” Merrion economist Alan McQuaid said.