Ireland Industry October 2021


Ireland: Industrial activity contracts at sharpest pace on record in October

December 13, 2021

Industrial output nosedived 34.5% month-on-month in seasonally-adjusted terms in October (September: -4.2% mom). The figure marked the worst reading on record. October's notable weakening was partly due to a deterioration in modern sector production, which fell at the sharpest pace since April 1990. In addition, traditional sector output also lost steam.

On an annual basis, overall industrial production declined 12.9% in October, contrasting September’s 27.3% expansion and marked the worst result since October 2020. Meanwhile, the trend improved significantly, with the annual average growth of industrial production coming in at plus 34.5%, up from September's 33.2% reading.

FocusEconomics Consensus Forecast panelists project industrial production to expand 1.9% in 2022, which is down 1.1 percentage points from last month’s forecast, and 3.0% in 2023.


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Ireland Industry Chart

Ireland Industry October 2021 1

Note: Year-on-year and annual average variation in %.
Source: Central Statistics Office Ireland (CSO) and FocusEconomics calculations.

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