Ireland Industry August 2020

Ireland

Ireland: Manufacturing output plunges in August

October 7, 2020

Manufacturing output dived 14.1% month-on-month in seasonally-adjusted terms in August, contrasting July’s 12.8% rise and marking the worst reading in over two years.

August’s plunge was driven by a swing to contraction of both traditional and modern sector output, with production in the latter dropping at the fastest pace since March 2018.

Similarly, on an annual basis, overall industrial production contracted 4.6% in August, contrasting July’s 14.3% expansion.

FocusEconomics Consensus Forecast panelists project industrial production to contract 0.2% in 2020, which is up 1.3 percentage points from last month’s forecast. For 2021, the panel sees industrial production growth of 4.5%.


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Ireland Industry August 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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