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Economy in Brief
U.S. Energy Prices Rise Further
Retail gasoline prices increased to $4.59 per gallon in the week ended May 23...
S&P Flash PMIs Are Mixed in May As Manufacturing Erodes Slowly
Among the early reporting countries in Europe and Japan, the S&P PMI readings for May tilt toward weakness...
NABE Lowers Growth Expectations for Next Year & 2022
The NABE expects the economic expansion to continue through its third year...
Chicago Fed National Activity Index Improves in April
The Chicago Fed National Activity Index (CFNAI) rose to 0.47 during April...
IFO Registers Small Rebound on the Month
Germany's IFO index has rebounded on the month...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
Profits & Margins Plunge In Q1: Expect More Margin Contraction As Fed Squeezes Inflation
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation and Fed Policy: A Relationship which Should Worry the Fed and Scare Investors
Why Have the Yields on TIPS Been Negative in the Past Two Years?
by Louise Curley June 13, 2005
Total Industrial production in Ireland rose 2.9% in April from March while production in manufacturing rose 4.6%.
In addition to the usual industry and market sector breakdowns of total production, Ireland also classifies production between modern industries and traditional industries. The latter are included in the category, "All sectors excluding modern sector". The modern sector includes production of recorded media, chemicals including man-made fibers, computers and instrument engineering, and electric machinery and equipment.
The "Modern" sector has accounted for most of the growth in production over the past several years which has made Ireland one of the better performers among countries of the Euro Zone performers. As can be seen in the attached chart showing the ten year record of production of the modern and traditional sectors, the traditional sector has been virtually flat while the modern sector has risen rapidly.
Now, however, despite the sharp increase in the production of the modern sector in April, the chart also shows that the trend of production in this sector has been flat to negative since early 2003.
Ireland | Apr 05 | Mar 05 | Apr 04 | Y/Y% | 2004 | 2003 | 2002 |
---|---|---|---|---|---|---|---|
Total | 121.36 | 117.93 | 129.60 | -6.36 | 125.08 | 124.45 | 118.40 |
Manufacturing | 121.08 | 115.79 | 129.50 | -6.43 | 124.47 | 124.23 | 118.57 |
Modern | 130.57 | 125.44 | 141.70 | -7.85 | 136.00 | 136.82 | 128.76 |
Total excluding modern | 105.43 | 103.77 | 108.90 | -3.19 | 107.82 | 104.77 | 101.72 |