Ireland Industry January 2021

Ireland

Ireland: Decline in manufacturing activity softens in January

March 9, 2021

Manufacturing output fell 0.1% in month-on-month seasonally-adjusted terms in January, which was markedly softer than December's 4.5% decrease. Looking at the details of the release, modern sector output flatlined in January, while tradition sector production growth lost steam.

On an annual basis, overall industrial production rose at a softer pace of 28.5% in January (December: +34.1% yoy). Meanwhile, annual average manufacturing production growth rose to 8.0% in January (December: +5.8%), signaling an improving trend in the manufacturing sector.

FocusEconomics Consensus Forecast panelists project industrial production to grow 3.0% in 2021, which is up 1.8 percentage points from last month’s forecast. For 2022, the panel sees industrial production growth of 3.4%.


Author:, Economist

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Ireland Industry January 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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