Source: CSO

On an annual basis production for Manufacturing Industries for March 2009 was 6.7% lower than in March 2008, according to the CSO. The most significant changes were in the following sectors: Radio television and communications (-29.8%), Publishing, printing and reproduction of recorded media (-21.8%) and the US dominated Chemical, chemical products and man-made fibres (+19.2%). The seasonally adjusted volume of industrial production for Manufacturing Industries for the three month period January to March 2009 was 5.7% higher than in the preceding three month period.

The “Modern” Sector, comprising a number of high-technology and chemical sectors, showed an annual decrease in production for March 2009 of 2.9% while a decrease of 17.9% was recorded in the “Traditional” Sector .

The seasonally adjusted industrial turnover index for Manufacturing Industries was 1.2% higher in the three month period January to March 2009 when compared with the preceding three month period. On an annual basis turnover was 5.0% lower when compared with March 2008.

Commenting on CSO figures IBEC senior economist Fergal O’Brien said: "At first glance it appears that the country’s manufacturing sector is not performing too badly at present – given the turmoil in the global economy, a drop of just 3% in output in the first quarter of the year compares very favourably in international terms. However, when we delve below the headline data we see that the modern sectors of pharmachem and medical continue to increase output levels while production in food, engineering and other traditional sectors has dropped substantially.