Justin Doran
  • Home
  • Research
  • Teaching
  • Teaching Resources
  • ebook
  • Links
  • Contact
  • Media
  • Blog
  • RePEc

Industrial Production Rising on Last Year

6/10/2011

1 Comment

 
In the year from April 2010 to April 2011 Industrial production increased by approximately 4%.  The Modern Sector which comprises the pharmaceutical and other high technology industries increased 2.6% while the Traditional sector recorded an increase of 1.4%.

Figure 1 displays the increase per quarter in the overall index of industrial production (with 2005 as the base year).  The CSO defines the industrial index as the “current trends in the volume of production of industrial local units with three or more persons engaged”.  It can be observed that over the last three years this has fallen from a peak in 2007 untilQ4 2009.  Following this industrial production saw a significant recovery, followed by a slight decline at the end of 2010.  
Picture
When we look at what sectors contributed to this decline and subsequent recovery, the CSO distinguishes between the Modern (High Technology) Sector and the Traditional (Low Technology) sectors.  We can see in Figure 2 that during the decline in 2008 and 2009, it was mainly a loss of production in the Traditional Sector as oppose to the Modern Sector which drove the steep falls.  While the recovery seems to be driven by a rise in the Modern Sector and simply a stabilisation in the Traditional Sector. 
Picture
While the rise of the Modern Sector is certainly good news, if we hope for an employment boost from this growth we may be disappointed.  Even though the Modern Sector produces more than the Traditional Sector, as of 2010, the Traditional Sector still employed more than twice the number of individuals as the Modern Sector.  So while the Modern sector would appear to be more productive (in terms of output per worker), growth in this sector may be more productivity driven as oppose to job creating.
Picture
1 Comment
North Kingstown webcams link
9/10/2012 02:44:49 am

Your blog looked so simple to design that I decided to create one, thanks!

Reply



Leave a Reply.

    Author

    Justin Doran is a Lecturer in Economics, in the Department of Economics, University College Cork, Ireland.

    Archives

    December 2017
    August 2013
    March 2013
    January 2013
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    May 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    October 2011
    September 2011
    August 2011
    July 2011
    June 2011
    May 2011
    April 2011
    March 2011

    Categories

    All
    Competitiveness
    Conference Presentations
    Eu
    Europe
    Finance
    Government Intervention
    Innovation
    Ireland
    Macroeconomy
    Media (Radio/Newspaper)
    Publications
    Uk

    RSS Feed