CSO corrects 2020 farm income gain estimate from 14% to 5.4%

Income statistics paint a different picture 12 weeks later

The CSO estimated in early December that Irish farm income increased by 14% in 2020. But the gain is revised back to only 5.4% in the CSO's latest estimate.

After the Central Statistics Office’s advance estimate in early December predicted the increase in farm income in 2020 at 14%, farmers could have been excused for splashing out on Christmas spending.

Unfortunately, it was only an advance estimate, and when the preliminary estimate was published last week, the CSO had revised the increase in farm income in 2020 back to only 5.4%.