 |
| Source: CSO |
On an annual basis Irish industrial production in December 2009 was 5.3% lower than in December 2008, according to the CSO today. Sales turnover was down 18.5% on annual basis while manufacturing production fell 1.8% in 2009 compared with -2.2% in 2008. Turnover was down 11% in the year.
The most significant changes were in the following sectors: Computer, electronic and optical products (-41.6%), Other manufacturing (-20.3%) and Basic pharmaceutical products and preparations (+24.8%). The seasonally adjusted volume of industrial production for Manufacturing Industries for the three month period October to December 2009 was 8.7% lower 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 December 2009 of 4.1% while a decrease of 7.7% was recorded in the “Traditional” sector.
The seasonally adjusted industrial turnover index for Manufacturing Industries was 7.1% lower in the three month period October to December 2009 when compared with the preceding three month period. On an annual basis turnover was 18.5% lower when compared with December 2008.
Food products turnover was down -8.1%; beverages -13.8%; chemicals +3.55; pharmaceuticals +9.2%; computer, electronics and optical products -50.1%, partly reflecting the closure of Dell's Limerick plant and other manufacturing -15.2%.
Commenting on the data, IBEC economist Reetta Suonperä said: “It is clear from the data that the indigenous sector in particular is in need of targeted, temporary stimulus measures in order to overcome this exceptional global crisis.
“The data show that manufacturing output overall fell by 1.8% in 2009 – a reasonable performance when compared with double-digit drops in our trading partners. Turnover, however, fell by a staggering 11% during the year.
“This highlights the price pressures that companies in the manufacturing sector face and emphasises the need urgent need to reduce the cost of doing business in Ireland,” concluded Suonperä.
