Ireland: Industrial output gains steam in November
Industrial output rose 6.4% in month-on-month seasonally-adjusted terms in November, which contrasted October’s 8.8% decrease. The notable pickup was partly due to a rebound in modern sector production. In contrast, traditional sector output fell.
On an annual basis, overall industrial production rose 35.3% in November, which was below Octobers 57.3% expansion. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 0.2% in November, up from October’s minus 5.4%.
FocusEconomics Consensus Forecast panelists project industrial production to grow 2.7% in 2023, which is up 1.3 percentage points from last months forecast, and 3.0% in 2024.