Production: Manufacturing: Total Manufacturing for Ireland
PRMNTO01IEQ657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.32
Year-over-Year Change
-5.07%
Date Range
10/1/1975 - 10/1/2023
Summary
The 'Production: Manufacturing: Total Manufacturing for Ireland' trend measures the overall output of the manufacturing sector in Ireland. This indicator is a key barometer of the health and performance of the Irish economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series tracks the total production volume across all manufacturing industries in Ireland. It is an important economic indicator used by policymakers, analysts, and businesses to assess the current state and trajectory of the country's industrial base and broader economic conditions.
Methodology
The data is collected through surveys of manufacturing firms and compiled by the Irish Central Statistics Office.
Historical Context
Trends in total manufacturing output provide insights into Ireland's export competitiveness, business investment, and the broader macroeconomic environment.
Key Facts
- Ireland is a major exporter of manufactured goods.
- Manufacturing accounts for over 20% of Ireland's GDP.
- The sector employs approximately 250,000 people in Ireland.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the total volume of manufacturing production in Ireland across all industries.
Q: Why is this trend relevant for users or analysts?
A: Monitoring trends in total manufacturing output provides important insights into the health and competitiveness of Ireland's industrial base and broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing firms and compiled by the Irish Central Statistics Office.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to assess the current state and outlook for Ireland's export-oriented economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 month lag, and may be subject to periodic revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Production: Manufacturing: Total Manufacturing for Ireland (PRMNTO01IEQ657S), retrieved from FRED.