Ireland Industrial production

Ireland

Ireland: Growth in industrial production surges in October

December 8, 2014

In October, industrial production tallied a seasonally- and working-day adjusted 38.2% expansion over the same month last year, which followed the 21.5% increase tallied in September and marked the highest reading in over a decade. According to the Central Statistics Office (CSO), the reading reflects an almost 50% annual increase in production in the “modern” sector, which includes pharmaceuticals, chemicals, and high-tech. This figure was influenced by a positive base effect resulting from the expiration of several patents in 2013. Output growth in the “traditional” sector accelerated as well.

Industrial production expanded 9.0% over the previous month in seasonally-adjusted terms, which was well above the 3.1% increase tallied in September. Meanwhile, annual average growth in industrial production increased from 13.2% in September to 17.0% in October.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 9.6% in 2014, which is unchanged from last month’s forecast. For 2016, the panel sees industrial production increasing 4.0%, which is also unchanged from last month’s projection.


Author:, Economist

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Ireland Industrial production Chart


Ireland Industry October 2014

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


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