Manufacturing production down 20.9% in January

Production in manufacturing industries plunged 20.9 per cent in January compared with the same month last year, according to data from the Central Statistics Office.

However, the data also shows there was an improvement of 7.2 per cent between November and January compared to the preceding three months.

On an annual basis, production in the “traditional” sector was 19.2 per cent greater in January, while over the same period production for the “modern” sector was 24.4 per cent less.

The modern sector includes chemicals and pharmaceuticals; computer, electronic, optical and electrical equipment; reproduction of recorded media; and medical and dental instruments and supplies. The traditional sector refers to all other manufacturing.

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The modern sector increased production by 19.8 per cent in 2021 when compared to the year before. The corresponding increase for the traditional sector was 2.8 per cent.

Production of electricity, gas, steam and air conditioning increased by 19.3 per cent in the three months from November to January compared to the previous three months.

Turnover in manufacturing industries was 3.4 per cent greater in the three months from November to January than in the preceding three months.