Ireland Industry


Industrial production surges to 6-month high in March

In March, industrial production climbed to a seasonally- and working-day adjusted 10.1% expansion over the same month last year, which followed the 2.8% expansion tallied in February and marked the largest gain in six months. According to the Central Statistics Office (CSO), the reading reflects a growth surge in the “modern” sector, which includes chemicals, high-tech and pharmaceuticals, and builds on evidence from last month that the worst effects of the patent cliff have passed. Meanwhile, there was a sharp drop in output in the “traditional” sector.

On a monthly basis, industrial production expanded 5.6% over the previous month in seasonally-adjusted terms, which was up from the 5.1% increase tallied in February and represented the highest rate since June 2013. Meanwhile, annual average growth in industrial production increased from minus 1.3% in February to minus 0.1% in March.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 1.7% in 2014, which is down 0.1 percentage points from last month's forecast. For 2015, the panel sees industrial production rising 2.6%.

Author:, Economist

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Ireland Industry Chart

Ireland Industry March 2014

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

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