Ireland Industrial production

Ireland

Ireland: Industrial production contracts at softer pace in June

July 6, 2015

Industrial production dropped 2.0% in June over the previous month in seasonally-adjusted terms, marking a softer drop than the 5.6% decrease tallied in May. According to the Central Statistics Office (CSO), the improvement mainly reflects a notable recovery in the “modern” sector, which includes pharmaceuticals, chemicals, and high-tech. Conversely, the “traditional” sector swung into contraction in June.

In annual terms, industrial production tallied a 27.3% expansion in June, which contrasted the 1.1% increase recorded in May. Meanwhile, the trend improved as annual average growth in industrial production advanced from May’s 18.7% to 21.0% in June.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 12.9% in 2015. For 2016, the panel sees industrial production increasing 3.8%.


Author: Teresa Kersting, Economist

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Ireland Industrial production Chart


Ireland Industry June 2015

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


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