Ireland Industry November 2021

Ireland

Ireland: Industrial output posts quickest growth since November 2020 in November

January 10, 2022

Industrial output grew 37.3% in month-on-month seasonally-adjusted terms in November, which contrasted October's 32.1% decrease. November's figure marked the best result since November 2020. The rebound was largely driven by a notable rebound in modern sector production growth. In addition, traditional sector output gained steam.

On an annual basis, overall industrial production nosedived 29.2% in November (October: -10.8% yoy), the worst result on record. Accordingly, the trend pointed down, with the annual average growth of industrial production coming in at 24.4% in November, down from October's 34.9% reading.

FocusEconomics Consensus Forecast panelists project industrial production to expand 3.0% in 2022, which is up 1.1 percentage points from last month’s forecast, and 3.8% in 2023.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 November 2021 0

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


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