Ireland Industrial production March 2018

Ireland

Ireland: Contraction in industrial production eases in March

May 11, 2018

The highly volatile Irish industrial production index contracted 7.3% over the previous month in seasonally-adjusted terms in March, marking a smaller drop than the 9.9% month-on-month fall in February. According to the Central Statistics Office (CSO), March’s reading reflected a double-digit contraction in the modern sector and a softer drop in the output of the traditional sector. Paper and paper products; printing and reproduction of recorded media in the traditional sector declined by the biggest magnitude, while electrical equipment in the modern sector, and wood and wood products, except furniture in the traditional sector were the categories that showed the biggest upturn.

In annual terms, industrial output contracted 9.9% in March following a meagre 0.2% drop in February (previously reported: +3.0% year-on-year). Meanwhile, annual average growth in industrial production came in at minus 0.9% in March, contrasting a reading of 0.2% in February.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 3.1% in 2018, which is down 0.8 percentage points from last month’s forecast. For 2019, the panel sees industrial production growing 2.6%.


Author:, Economist

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Ireland Industrial production Chart


Ireland Industry March 2018 0

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


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