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12/06/2009
Ireland's Manufacturing Up Despite Recession
The manufacturing sector has seen an increase in production despite the continuing economic woes.
According to statistics released by the Central Statistics Office on Friday, production for manufacturing industries for April 2009 was 3.8% higher than in April 2008.
The most significant changes were by sector included a 35% rise in production in chemical, chemical products and man-made fibres, however this was countered by a huge dip in radio television and communications, which fell by 23.8%.
According to the CSO, the seasonally adjusted volume of industrial production by Ireland's manufacturing
industries for the three month period February to April this year was 1.4% higher than in the preceding three month period.
There were also advances by what the CSO call 'the modern sector', comprising a number of high-technology and chemical sectors. This sector showed an annual increase in production for April 2009 of 11.3% while a decrease of 14.9% was recorded in the "Traditional" Sector, which includes for example food, paper and machinery parts production.
Yesterday, the office also revealed that the cost of living had experienced its biggest drop in more than 75 years over the past 12 months.
The rate of inflation, which measures the cost of living, has dived by 4.7%, the most since 1933, in the year to the end of May.
With prices down by almost 5%, consumers are now paying the same prices for products as they were six years ago.
However, consumers are still paying more for insurance, alcohol and childcare but food, electricity, gas and rent prices have plunged over the last year.
A European measure of prices showed prices fell in Ireland much more than in any other European country. In the year to April 2009 prices in Ireland were down by 0.7%. That compares to a hike of 2.3% in Britain, 4.3% in Poland and 4% in Malta. In Romania they rose by 6.5%.
(DW/JM)
According to statistics released by the Central Statistics Office on Friday, production for manufacturing industries for April 2009 was 3.8% higher than in April 2008.
The most significant changes were by sector included a 35% rise in production in chemical, chemical products and man-made fibres, however this was countered by a huge dip in radio television and communications, which fell by 23.8%.
According to the CSO, the seasonally adjusted volume of industrial production by Ireland's manufacturing
industries for the three month period February to April this year was 1.4% higher than in the preceding three month period.
There were also advances by what the CSO call 'the modern sector', comprising a number of high-technology and chemical sectors. This sector showed an annual increase in production for April 2009 of 11.3% while a decrease of 14.9% was recorded in the "Traditional" Sector, which includes for example food, paper and machinery parts production.
Yesterday, the office also revealed that the cost of living had experienced its biggest drop in more than 75 years over the past 12 months.
The rate of inflation, which measures the cost of living, has dived by 4.7%, the most since 1933, in the year to the end of May.
With prices down by almost 5%, consumers are now paying the same prices for products as they were six years ago.
However, consumers are still paying more for insurance, alcohol and childcare but food, electricity, gas and rent prices have plunged over the last year.
A European measure of prices showed prices fell in Ireland much more than in any other European country. In the year to April 2009 prices in Ireland were down by 0.7%. That compares to a hike of 2.3% in Britain, 4.3% in Poland and 4% in Malta. In Romania they rose by 6.5%.
(DW/JM)
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Halifax report continuing rise in house prices
House prices in the UK have risen by almost 17 per cent according to the latest survey figures released by the Halifax. The report, published on Thursday 7 March, has shown that in February, property prices rose by more than one-sixth on the same time a year earlier – representing the fastest annual rate of growth in 12 years.
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UK inflation steady at target rate
The latest figures from the Office for National Statistics (ONS) indicate that despite increasing energy costs, Consumer Prices Index (CPI) annual inflation is steady at 1.9% for January, just under the Government's target. The forecast was for inflation to hit 2.1% but the largest upward effect on inflation came from transport.
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British Gas to raise gas prices in New Year
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British Gas to raise gas prices in New Year
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Northern Ireland WeatherThis Evening and Tonight:It will be dry with a few cloud breaks developing later in the night. Feeling quite mild although breezy again in the north with brisk southwest winds. Minimum temperature 10 °C.
