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Ireland Industrial production December 2023

Ireland: Industrial output grows at quickest pace since April in December

Industrial production increased 23.5% month-on-month in seasonally adjusted terms in December (November: +7.3% mom). December’s print marked the best reading since April. The upturn largely reflected a sharp upturn in modern sector production. The modern sector includes the chemicals, pharmaceuticals, computer and electronics industries, which are typically volatile due to the strong presence of multinational firms.

On an annual basis, overall industrial production grew 40.5% in December, rebounding notably from November’s 20.9% fall and marked the best result since November 2022. Moreover, the trend improved significantly, with the annual average variation of industrial production coming in at minus 6.9% in December, up from November’s minus 10.8%.

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