Ireland Industry October 2020

Ireland

Ireland: Manufacturing production rebounds in October

December 7, 2020

Manufacturing output increased 0.1% month-on-month in seasonally-adjusted terms in October, which contrasted September's 5.2% decrease. October's upturn came on the back of a rebound in modern sector output and a pick up traditional sector production growth.

On an annual basis, overall industrial production plunged 14.9% in October, a sharper decrease than September’s 13.5% fall and marking the worst result since December 2018. Accordingly, the trend pointed down, with the annual average variation of manufacturing production coming in at a one-year low of 0.0%, down from September's 2.1% reading.

FocusEconomics Consensus Forecast panelists project industrial production to grow 2.9% in 2021, which is up 0.1 percentage points from last month’s forecast. For 2022, the panel sees industrial production growth of 3.1%.


Author:, Economist

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Ireland Industry October 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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