Ireland Industry May 2020

Ireland

Ireland: Manufacturing production contracts in May

July 6, 2020

Manufacturing output decreased 10.5% month-on-month in seasonally-adjusted terms in May (April: -12.2% mom).

Looking at the details of the release, modern sector output plummeted in May, while traditional sector output fell at a milder, albeit still pronounced pace.

On an annual basis, overall industrial production plunged 11.3% in May, contrasting April’s 3.6% expansion and marking the worst result since December 2018. Accordingly, annual average manufacturing output growth fell to 2.8% in May (April: +3.9%). This signals a worsening trend in the manufacturing sector.

FocusEconomics Consensus Forecast panelists project industrial production to contract 3.9% in 2020, which is up 1.8 percentage points from last month’s forecast. For 2021, the panel sees industrial production growth of 4.3%.


Author:, Economist

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Ireland Industry May 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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