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.
Author: Hanna Andersson, Economist