Ireland Industrial production November 2018

Ireland

Ireland: Industrial production contracts at markedly sharper rate in November

January 9, 2019

The highly volatile Irish manufacturing industries production index contracted sharply from the previous month in November, declining 7.9% in seasonally-adjusted, month-on-month terms. This was a marked decline compared to October’s revised 0.7 drop (previously reported: -0.2% month-on-month). According to the Central Statistics Office (CSO), November’s print was due to a marked contraction in the modern sector and a milder downturn in the traditional sector. Among the biggest declines were in the sub-categories of metals and fabricated metal products, transport and electrical equipment.

Industrial production also deteriorated in annual terms, swinging to a 10.5% contraction in November over the same month of the previous year, from a 5.4% year-on-year upturn in October. Meanwhile, annual average growth in industrial output fell to 1.9% in November from 3.2% in October.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 4.3% in 2019, which is up 0.7 percentage points from last month’s forecast. For 2020, the panel sees industrial production growth slowing to 2.9%.


Author:, Economist

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Ireland Industrial production Chart


Ireland Industry November 2018 0

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


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