Ireland Industry February 2022

Ireland

Ireland: Industrial output bounces back in February

April 7, 2022

Industrial output grew 2.4% in month-on-month seasonally-adjusted terms in February, which contrasted January's 6.6% decrease. February's rise was partly driven by a notable rebound in modern sector production. In contrast, traditional sector output weakened sharply.

On an annual basis, overall industrial production nosedived 15.4% in February (January: -18.3% yoy). Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 5.5%, down from January's 11.5% reading.

FocusEconomics Consensus Forecast panelists project industrial production to contract 8.5% in 2022, which is down 3.7 percentage points from last month’s forecast, and to grow 4.6% in 2023.


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Ireland Industry Chart


Ireland Industry February 2022

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


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