Industrial production picks up after recent slump

Industrial output showed some improvement in the second quarter of the year, according to the latest release by the Central Statistics…

Industrial output showed some improvement in the second quarter of the year, according to the latest release by the Central Statistics Office (CSO).

On a 12-month basis,  industrial production rose by 4.5 per cent in volume terms in the second quarter.

The improved growth was mainly led by a robust performance by the "Modern" sector which comprises chemicals, computers and electrical goods. Production in this sector grew by 5.4 per cent since last year.

However domestic firms which dominate the food and beverages sector continued to lag the IT and pharmaceutical sector.

This component saw a slight weakening in the second quarter after a strong start to 2006, however quarterly volume growth was still a healthy 5.3 per cent year-on-year.

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