CSO: Industrial production declines by 3.1%

Production in the modern sector fell by 17.9% compared to the corresponding period during the previous year. Picture: Ben Birchall.

Production in manufacturing industries fell by 3.1% in the three month period from March 2022 to May 2022, compared to the previous three months.

Figures released today by the Central Statistics Office (CSO) revealed that, on an annual basis, industrial production was 14.3% lower compared to the corresponding three month period in 2021.

Over the three-month period, production in the traditional sector was 11.5% greater than during the same months last year, when many industries were facing public health restrictions due to the Covid-19 pandemic.

However, over the same time period, production in the modern sector fell by 17.9% compared to the corresponding period the previous year.

Production of electricity, gas, steam and air conditioning fell by 17.6% over the course of March to May 2022, compared to the previous three months.

Quarterly decrease of 3.1% in industrial productionhttps://t.co/ZrMNAYEWId #CSOIreland #Ireland #IrishBusiness #BusinessStatistics #IndustrialProduction #Manufacturing #IndustrialTurnover #Business #BusinessNews pic.twitter.com/zH857FFbru

— Central Statistics Office Ireland (@CSOIreland) July 7, 2022

In contrast, production in manufacturing industries reported a 3.9%. 

Eamonn Cleary, statistician in the business statistics division, said: "On an annual basis, industrial production was 14.3% lower in the three-month period from March to May 2022 than had been the case in the corresponding period of 2021, when many industries were experiencing COVID-19 related restrictions.

"However, it is important to note that this annual decrease in production was not uniform across the industrial sub-indices. For instance, the modern sector experienced a 17.9% decrease in production in this period, compared to the traditional sector which saw an increase of 11.5%."