Your feedback can help us improve and enhance our services to the public. Tell us what matters to you in our online Customer Satisfaction Survey.
From August 2022 to October 2022, industrial production in Manufacturing Industries increased by 6.4% compared to the previous three-month period.
On an annual basis, production in Manufacturing Industries was 28.4% greater in the three months from August 2022 to October 2022, than in the corresponding period of 2021.
The increase in industrial output largely reflects increases in export manufacturing activity and contract manufacturing in the multinational sectors. (See Statistician's' Comment section below)
From August 2022 to October 2022, the Modern sector increased production by 7.1% compared to the previous three-month period. The 'Traditional' sector increased production by 4.2% over the same period.
From August 2022 to October 2022, turnover in Manufacturing Industries increased by 20.4% compared to the previous three-month period.
The rate of increase in industrial turnover exceeding that of industrial production is influenced by increases in producer prices which have occurred in 2022. (See Statistician's Comment section below.)
The figures from March 2020 onwards, i.e. from the start of the COVID-19 crisis, are an exception to previous seasonal patterns and they highlight the underlying volatility of the monthly Industrial Production and Turnover series. Seasonal adjustment was already challenging for these series. While the seasonal adjustment models are being updated and changed monthly as appropriate (e.g. by treating the data for certain sectors as additive outliers) the underlying volatility of the data is still reflected in the seasonally adjusted series. The CSO is reviewing how the seasonal adjustment models are applied to the series on Industrial Production and Turnover and expects to introduce revised methods for seasonal adjustment of these series.
| Manufacturing Industries - Seasonally Adjusted and Unadjusted1 | ||||
| (Base Year 2015 = 100) | ||||
| Seasonally Adjusted | Seasonally Unadjusted | |||
| Production Index | Turnover Index | Production Index | Turnover Index | |
| October 2021 | 88.6 | 122.9 | 133.5 | 138.5 |
| September 2022 | 163.7 | 180.3 | 214.7 | 227.9 |
| October 2022 | 138.9 | 205.0 | 206.7 | 230.3 |
| Monthly % change | -15.2 | 13.7 | -3.7 | 1.1 |
| Annual % change | 56.8 | 66.8 | 54.8 | 66.3 |
| May 2022 - Jul 2022 | 141.2 | 154.2 | 125.0 | 144.6 |
| Aug 2022 - Oct 2022 | 150.2 | 185.7 | 182.7 | 200.7 |
| % change | 6.4 | 20.4 | 46.2 | 38.8 |
| 1Figures may differ due to rounding. | ||||
Learn about our data and confidentiality safeguards, and the steps we take to produce statistics that can be trusted by all.
Statistician's Comment
The Central Statistics Office (CSO) has today (07 December 2022) released Industrial Production and Turnover October 2022. Commenting on the release, Eamonn Cleary, Statistician in the Business Statistics Division, said: "From August 2022 to October 2022, production in Manufacturing Industries increased by 6.4% compared to the previous three-month period. (See Headline Table and Table 3b)
On an annual basis, production in Manufacturing Industries was 28.4% greater in the three months from August 2022 to October 2022, than in the corresponding period of 2021. (See Table 3b)
This increase in industrial output largely reflects increases in export manufacturing activity, as well as contract manufacturing in the multinational sectors. For instance, External Trade statistics in the first nine months of 2022 have shown a similar general upward trend. Exports between January and September 2022 were up by €37.0 billion (30.3%) compared to the same period in 2021, with Medical & Pharmaceutical Products up by €15.9 billion (35.0%), Organic Chemicals by €9.4 billion (47.8%), Machinery & Transport Equipment, which includes ICT, by €2.3 billion (12.5%), and Food Products by €2.1 billion (23.9%). (See Goods Exports and Imports September 2022, Table 3)
From August 2022 to October 2022, the Modern sector increased production by 7.1% compared to the previous three-month period. Meanwhile, the 'Traditional' sector increased production by 4.2% over the same period. (See Table 3b)
Turnover in Manufacturing Industries was 20.4% greater in the three months from August 2022 to October 2022 than in the preceding three months. (See Headline Table, Table 4 and Table 5b)
The Wholesale Price Index (WPI) is one of the component factors explaining the rate of increase in industrial turnover exceeding the rate of increase in industrial production. The industrial production index is calculated at constant prices, using the WPI to adjust prices to base levels. On the other hand, the industrial turnover index is calculated at current prices. In October 2022, the results of the WPI for Manufacturing Industries showed an annual increase of 8.0%. This is a factor in how the industrial production index has seen a more moderate increase than the industrial turnover index in recent months. (See Wholesale Price Index October 2022, Table 1)"