Ireland: Industrial output grows at fastest pace in over one year in December
Latest reading: Industrial output expanded 8.2% month on month in seasonally adjusted terms in December (November: -4.6% mom). The print marked the best reading since November 2023. December’s rise was largely due to a notable rebound in modern sector production, whose output tends to be volatile due to the presence of multinational-dominated industries, such as chemicals, pharmaceuticals and computers and electronics.
On an annual basis, overall industrial production rose 6.5% in December, contrasting November’s 5.2% fall. Moreover, the trend improved, but remained downbeat, with the annual average variation of industrial production coming in at minus 5.6%, up from November’s minus 6.0% reading.