Ireland Industry


Industrial production posts another strong month in May

In May, industrial production climbed to a seasonally- and working-day adjusted 22.4% expansion over the same month last year, which followed the 25.2% increase tallied in April. According to the Central Statistics Office (CSO), the reading reflects significantly higher growth in the “modern” sector, which includes chemicals, high-tech and pharmaceuticals. Meanwhile, output in the “traditional” sector also tallied an important gain.

Industrial production contracted 2.3% over the previous month in seasonally-adjusted terms, which contrasted the 9.4% increase tallied in April. Meanwhile, annual average growth in industrial production increased from 4.5% in April to 6.5% in May.

FocusEconomics Consensus Forecast panelists expect private consumption to expand 1.2% in 2014, which is up 0.1 percentage points from last month’s forecast. For 2015, the panel sees private consumption increasing 1.5%.

Author:, Economist

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Ireland Industry Chart

Ireland Industry May 2014

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

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