Ireland Industry


Industrial production declines most in more than three years

In October, industrial production fell a seasonally and working-day adjusted 16.7% over the same month last year. The figure followed the 12.5% decrease observed in September (previously reported: -12.7% year-on-year) and marked the largest decline in the index since August 2009.

According to the Central Statistics Office Ireland (CSO), the reading mainly reflected a contraction in the so-called "modern" sector, which comprises a number of high technology and chemical industries. On a monthly basis, industrial production rose 2.7% over the previous month in seasonally adjusted terms, which contrasted the 14.8% decrease tallied in September.

As a result, the trend continues to point downwards, with annual average growth in industrial production falling from 0.4% in September to minus 2.0% in October.


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Ireland Industry Chart

Ireland Industry October 2012

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

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