Ireland Industry


Industrial production rebounds to highest level in nearly two years

In September, industrial production expanded a seasonally and working-day adjusted 11.7% over the same month last year, which greatly contrasted the 5.7% drop tallied in August. The reading marked the highest growth since October 2011. According to the Central Statistics Office (CSO), the reading reflects a substantial increase in the "modern" sector, which includes chemicals, high-tech and pharmaceuticals.

On a monthly basis, industrial production increased 2.9% over the previous month in seasonally-adjusted terms, which contrasted the 0.8% decrease tallied in August. Meanwhile, annual average growth in industrial production rose from minus 4.8% in August to minus 2.8% in September.

FocusEconomics Consensus Forecast panelists expect industrial production to contract 1.3% in 2013, which is down 0.4 percentage points from last month's forecast. For 2014, the panel sees industrial production rising 1.8%, which is unchanged from last month's estimate.

Author:, Economist

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Ireland Industry Chart

Ireland Industry September 2013

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

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