Ireland Industry July 2021

Ireland

Ireland: Manufacturing activity notches quickest growth since November 2020 in July

September 10, 2021

Manufacturing production increased 7.6% month-on-month in seasonally-adjusted terms in July (June: -4.2% mom). July's figure marked the strongest expansion since November 2020. Looking at the details of the release, modern sector production returned to growth in July, while traditional sector output also climbed grew at a stronger mild pace.

On an annual basis, overall industrial production rose at a quicker rate of 15.6% in July (June: +12.0% yoy). Meanwhile, the trend pointed up, with the annual average growth of manufacturing production coming in at plus 15.9% in July, down from June's 15.6% reading.

FocusEconomics Consensus Forecast panelists project industrial production to grow 18.9% in 2021, which is from last month’s forecast. For 2022, the panel sees industrial production growth of 4.2%.


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Ireland Industry July 2021

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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