Ireland Industrial production August 2016


Industrial production declines in August

Industrial production contracted 13.4% from the previous month in seasonally-adjusted terms in August, contrasting the revised 7.9% expansion in July (previously reported: +3.7% month-on-month). According to the Central Statistics Office (CSO), August’s decline reflects a double-digit contraction in the modern sector.

In annual terms, industrial production swung from a revised 5.3% expansion in July (previously reported: +6.5% year-on-year) to a sharp 7.7% contraction in August. Meanwhile, annual average growth in industrial production moderated from 16.3% in July to 12.7% in August, the lowest print in over two years.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 2.0% in 2016, which is down 1.0 percentage points from last month’s forecast. For 2017, the panel sees industrial production growing 2.0%, which is up 0.3 percentage points from last month’s forecast.

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Ireland Industrial production Chart

Ireland Industry August 2016

Note: Year-on-year and annual average variation in %.
Source: Central Statistics Office Ireland (CSO) and FocusEconomics calculations.

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