The technology and chemical sectors drove an increase in industrial production in the Republic last month, according to the latest figures. Barry O'Halloranreports.
Numbers released yesterday by the Central Statistics Office (CSO) show that the industrial production index was 140.8 in September, 4.3 per cent higher than in the same month last year.
The index is measured against a benchmark of 100, which was set in 2000.
The CSO said the modern sector - technology and chemical producers - grew 5.8 per cent, while traditional manufacturers' output was up 1.8 per cent.
The same figures show that industrial turnover was up 3.5 per cent in September at 120.5. The three-month period ended on September 30th was 0.3 per cent ahead of the previous three months.
Reacting to the news yesterday, Bloxham Stockbrokers' chief economist Alan McQuaid described the Republic's industrial production so far this year as "impressive". The figures supported the firm's view that economic growth would hit 5 per cent this year.
However, David Croughan, economist with employers' group, Ibec, warned that "output in manufacturing weakened in August and September, and exporters are now coming under increasing competitive pressure as the euro has risen so rapidly on foreign exchanges".
He said it was of the utmost importance that the social partners worked to contain inflationary pressures.
