Ireland Industry April 2021

Ireland

Ireland: Decline in manufacturing activity moderates in April

June 8, 2021

Manufacturing output fell at a softer pace of 0.5% in month-on-month seasonally-adjusted terms in April, easing from March’s 2.3% decline. Looking at the details of the release, traditional sector production swung back to expansion in April, while modern sector output tumbled at a stronger rate.

On an annual basis, overall industrial production gained notable pace, expanding 28.5% in April, jumping from March’s 2.1% increase. Accordingly, annual average manufacturing production growth rose to 11.8% in April (March: +9.6%), signaling an improving trend in the manufacturing sector.

FocusEconomics Consensus Forecast panelists project industrial production to grow 10.2% in 2021, which is down 0.1 percentage points from last month’s forecast. For 2022, the panel sees industrial production growth of 5.3%.


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Ireland Industry April 2021

Note: Year-on-year and annual average variation in %. The modern sector includes the manufacture of chemicals and pharmaceuticals, computer and electronical equipment, medical and dental instruments, as well as the reproduction of recorded media. The traditional sector includes everything excluding the “modern” sector.
Source: Central Statistics Office Ireland (CSO) and FocusEconomics calculations.


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