Industrial production was 31.3% greater in September 2022 than in September 2021.
Between August and September 2022, the monthly seasonally adjusted production index increased by 14.1%.
The increase in industrial output largely reflects increases in export manufacturing activity and contract manufacturing in the multinational sectors. (See Statisticians' Comment section below)
While the Modern industrial sectors showed annual growth of 31.0%, industrial production in the Traditional sectors grew by 15.9% in the year to September 2022.
On a three-month basis, which reduces some of the monthly volatility in the series, production in manufacturing industries increased by 8.4% in the three months from July 2022 to September 2022 compared with the previous three-month period.
In the three months from July 2022 to September 2022 (Q3), industrial production was 2.1% greater than the corresponding period of 2021.
Turnover in Manufacturing Industries was 9.7% greater in the three months from July 2022 to September 2022 than in the preceding three months.
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 | |
| September 2021 | 128.5 | 126.0 | 163.3 | 163.2 |
| August 2022 | 147.8 | 168.9 | 126.7 | 143.8 |
| September 2022 | 168.6 | 177.8 | 217.1 | 232.9 |
| Monthly % change | 14.1 | 5.3 | 71.3 | 62.0 |
| Annual % change | 31.3 | 41.1 | 33.0 | 42.7 |
| Apr 2022 - Jun 2022 | 136.8 | 149.3 | 121.4 | 139.6 |
| Jul 2022 - Sep 2022 | 148.3 | 163.9 | 157.2 | 176.4 |
| % change | 8.4 | 9.7 | 29.5 | 26.4 |
| 1Figures may differ due to rounding. | ||||
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Statistician's Comment
The Central Statistics Office (CSO) has today (09 November 2022) released Industrial Production and Turnover September 2022. Commenting on the release, Eamonn Cleary, Statistician in the Business Statistics Division, said: "Industrial production was 31.3% greater in September 2022 than in September 2021. (See Headline Table, Table 1, and Table 3a)
From August to September 2022, the monthly seasonally adjusted production index increased by 14.1%. (See Headline Table, Table 1, and Table 3a)
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 eight months of 2022 have shown a similar general upward trend. Exports between January and August 2022 were up by €32.4 billion (30.2%) compared to the same period in 2021, with Medical & Pharmaceutical Products up by €15.2 billion (37.8%), Organic Chemicals by €6.9 billion (38.5%), Machinery & Transport Equipment, which includes ICT, by €2.7 billion (17.1%), and Food Products by €1.6 billion (21.2%). (See Goods Exports and Imports August 2022 release, Table 3)
On a three-month basis, which reduces some of the monthly volatility in the series, production in Manufacturing Industries increased by 8.4% in the three months from July 2022 to September 2022, compared with the previous three-month period. (See Table 3b)
In the three months from July 2022 to September 2022 (Q3), industrial production was 2.1% greater than the corresponding period of 2021. (See Table 3b)
Turnover in Manufacturing Industries was 9.7% greater in the three months from July 2022 to September 2022 than in the preceding three months. (See Headline Table, Table 4 and Table 5b)"