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Ireland Industrial production April 2023

Ireland: Industrial output records quickest growth since August 2022 in April

Industrial output grew 21.4% in month-on-month seasonally adjusted terms in April, which contrasted March’s 27.0% decrease. April’s print marked the best reading since August 2022. The notable rebound was driven by the modern sector, which soared by 81%. The 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 increased 27.4% in April, rebounding from March’s 24.8% fall. Accordingly, the trend improved, with the annual average growth of industrial production coming in at 19.2%, up from March’s 16.1%.

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