Banking

Manufacturing will see ‘modest growth’ in 2023

Conor Magee, head of manufacturing at Bank of Ireland, predicts ‘flat to moderate growth, and maybe some contraction’ due to the EU experiencing ‘the R word’ (recession)

Conor Magee, head of manufacturing at Bank of Ireland: ‘Manufacturing will continue at moderate, steady growth, but it will be low growth.’ Picture: Fergal Phillips

The manufacturing sector will continue to grow at a modest level next year, Conor Magee, head of manufacturing at Bank of Ireland, has said.

For the first eight months of 2022, Irish goods exports stood at a cumulative €140 billion, up 30 per cent year on year. But while output in the manufacturing sector grew last month, it was at a slow pace.

“Manufacturing will continue at moderate, steady growth, but it will be low ...