Contract manufacturing makes Irish output data volatile, State agency says
The profit generated from the sale of these phones is expected to be channelled directly through Apple’s Irish operation, resulting in a bigger tax liability for the company here.
The additional receipts are linked to an uplift in corporate profits generally, the exhaustion of certain capital allowances and a significant jump in contract manufacturing by several Irish-based firms, including Apple’s main Irish subsidiary, Apple Operations International. “It should be noted that these exceptionally volatile results are not common to all sectors in the industrial economy,” the CSO said.
Euro zone bond yields edged back towards highs reached last week after US data added to concern that interest rates will need to stay elevated for longer, and the focus turned to Wednesday’s US consumer prices data.
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