The results contained in this release reflect some of the economic impacts of the COVID-19 situation. In general, for the Industrial Production and Turnover indices, the CSO recommends that commentary and interpretation of the results should focus mainly on the monthly unadjusted series and on the seasonally adjusted three-month moving average. The CSO will continue to review how the seasonal adjustment models are applied to the series on Industrial Production and Turnover, and may introduce revised estimates. For further information see: Information Note - Industrial Production and Turnover Index April 2022.
Production in manufacturing industries declined by 2.9% in the three months from February 2022 to April 2022, compared to the previous three month period. On an annual basis, industrial production was 18.6% less than in the corresponding period of 2021.
From February to April 2022, production in the 'Traditional' sector was 18.2% greater than in the corresponding period of 2021, when many industries were impacted by COVID-19 related restrictions. Over the same period, production in the 'Modern' sector declined by 24.4%.
Production of electricity, gas, steam & air conditioning declined by 21% in the three months from February to April 2022, compared to the previous three month period.
Turnover in Manufacturing Industries was 1.9% lower in the three months from February 2022 to April 2022 than in the preceding three months.
The figures from March 2020 onwards are an exception to existing seasonal patterns and have highlighted the underlying volatility of the monthly industrial production and turnover series. Seasonal adjustment is challenging in the current climate and while the seasonal adjustment models have been reviewed and changed 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 continuing to review how the seasonal adjustment models are applied to the series on Industrial Production and Turnover, and may introduce revised estimates.
| Manufacturing Industries - Seasonally Adjusted and Unadjusted1 | ||||
| (Base Year 2015 = 100) | ||||
| Seasonally Adjusted | Seasonally Unadjusted | |||
| Production Index | Turnover Index | Production Index | Turnover Index | |
| April 2021 | 170.6 | 129.5 | 172.7 | 138.8 |
| March 2022 | 135.0 | 137.4 | 111.2 | 119.9 |
| April 2022 | 116.7 | 129.6 | 117.2 | 138.7 |
| Monthly % change | -13.5 | -5.7 | 5.4 | 15.7 |
| Annual % change | -31.6 | 0.1 | -32.2 | -0.1 |
| Nov 2021 - Jan 2022 | 131.8 | 135.1 | 135.0 | 140.8 |
| Feb 2022 - Apr 2022 | 128.0 | 132.6 | 111.8 | 126.6 |
| % change | -2.9 | -1.9 | -17.2 | -10.1 |
| 1Figures may differ due to rounding. | ||||
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Statistician's Comment
The Central Statistics Office (CSO) has today (8 June 2022) released Industrial Production and Turnover April 2022. Commenting on the release, Eamonn Cleary, Statistician in the Business Division, said: "On an annual basis, industrial production was 18.6% less in the three month period from February to April 2022 than had been the case in the corresponding period of 2021, when many industries were experiencing COVID-19 related restrictions. See Table 3b.
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 24.4% decrease in production in this period, compared to the 'Traditional' sector which saw an increase of 18.2%. See Table 3b.
For context, the 'Modern' sector comprises the chemical, pharmaceutical, computer, electronic, medical and dental sectors, while the 'Traditional' sector is made up of all remaining industrial enterprises.
Other notable results include a 21% decrease in the production of electricity, gas, steam & air conditioning in the three months from February to April 2022, compared to the previous three month period. See Table 3b"