Ireland Industry December 2020

Ireland

Ireland: Manufacturing activity dips sharply in December

February 5, 2021

Manufacturing output nosedived 25.8% in month-on-month seasonally-adjusted terms in December, which contrasted November's 55.4% increase. The result marked the worst reading since June 2014. The downturn was largely due to a deterioration in modern sector production.

On an annual basis, overall industrial production rose at a softer pace of 28.8% in December (November: +41.6% yoy). Meanwhile, annual average manufacturing production growth rose to 5.8% in December (November: +3.3%), signaling an improving trend in the manufacturing sector.

FocusEconomics Consensus Forecast panelists project industrial production to grow 3.0% in 2021, which is down 1.7 percentage points from last month’s forecast. For 2022, the panel sees industrial production growth of 3.4%.


Author:, Economist

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Ireland Industry December 20 20

Note: Year-on-year and annual average variation in %. The modern sector includes the manufacture of chemicals and pharmaceuticals, computer and electronical equipment, medical and dental instruments, as well as the reproduction of recorded media. The traditional sector includes everything excluding the “modern” sector.
Source: Central Statistics Office Ireland (CSO) and FocusEconomics calculations.


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