The volume of production in the manufacturing industries rose 7.3 per cent in October compared with a month earlier, but turnover fell, new data showed today.

Production in the modern sector, which includes high tech and chemical industries, was 9.2 per cent higher during the month, while the more traditional industries recorded a 0.9 per cent increase.

On a seasonally adjusted basis, the volume of production was up 6.2 per cent in the three-month period from August to October. Turnover was 2.7 per cent higher.

Year on year, production was 13.4 per cent higher, while turnover was 0.1 per cent higher.

Bloxham chief economist Alan McQuaid said the annual rise was impressive, and noted the sector matched its best performance of the year recorded in August.

Total industrial production was 12.1 per cent higher in the year.

“We continue to believe that when the world economy regains momentum, Ireland is better placed than most to take advantage of that, and we still think a strong manufacturing production/export performance will provide the platform for a sustainable Irish economic recovery over the next few years,” Mr McQuaid said.