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.
Author: Hanna Andersson, Economist