Ireland Industry June 2021

Ireland

Ireland: Manufacturing output slides at a slightly quicker pace in June

August 9, 2021

Manufacturing output declined at a marginally sharper rate of 4.6% in month-on-month seasonally-adjusted terms in June, following May’s 4.4% slide. Looking at the details of the press release, output in the modern sector declined at a quicker pace and the traditional sector swung into contraction over the previous month.

On an annual basis, industrial production grew at a slower clip, expanding 12.0% in June, below May’s 29.2% increase. Meanwhile, annual average manufacturing production growth rose to 16.0% in June (May: +15.2% yoy), signaling an improving trend in the manufacturing sector.

FocusEconomics Consensus Forecast panelists project industrial production to grow 15.8% in 2021, which is up 2.7 percentage points from last month’s forecast. For 2022, the panel sees industrial production growth of 5.7%.


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Ireland Industry June 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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