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Ireland Industrial production March 2024

Ireland: Industrial output growth gains steam in March

Industrial output increased 12.8% in month-on-month seasonally adjusted terms in March, which was above February’s 5.7% increase. March’s notable pickup was partly due to an improvement in modern sector production growth. In addition, traditional sector output rebounded. 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 rose 35.1% in March, contrasting February’s 34.7% fall and marking the best result since November 2022. Moreover, the trend improved, with the annual average variation of industrial production coming in at minus 12.8%, up from February’s minus 16.5% reading.

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