Ireland Industry June 2022

Ireland

Ireland: Industrial output grows at weaker pace in June

August 9, 2022

Industrial output increased 6.7% in month-on-month seasonally-adjusted terms in June, which was down from May’s 33.9% decrease. The slowdown was largely driven by a weaker expansion in the modern sector.

On an annual basis, overall industrial production grew 22.8% in June, up from May’s 6.6% increase and marking the best result since September 2021. Meanwhile, the trend pointed up, with the annual average variation of industrial production coming in at minus 3.8% in June, up from May's minus 4.7%.

FocusEconomics Consensus Forecast panelists project industrial production to contract 5.7% in 2022, which is down 2.7 percentage points from last month’s forecast, and to grow 1.6% in 2023.


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Ireland Industry June 2022 1

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


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