Ireland: Industrial production declines in August
October 11, 2016
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.