Ireland Industrial production December 2016


Ireland: Industrial production contracts in December

January 10, 2017

The highly volatile Irish industrial production index contracted 11.7% from the previous month in seasonally-adjusted terms in December, contrasting the revised 15.3% expansion observed in November (previously reported: +16.3% month-on-month). According to the Central Statistics Office (CSO), December’s sharp drop reflected a contraction in the traditional and modern sectors, the latter of which dropped at a double-digit rate.

In annual terms, industrial production swung from a revised 12.9% expansion in November (previously reported: +16.0 % year-on-year) to a 1.3% drop in December. Meanwhile, annual average growth in industrial production moderated from 4.9% in November to 4.5% in December, the lowest print since March 2014.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 1.8% in 2017, which is down 0.2 percentage points from last month’s forecast. For 2018, the panel sees industrial production growing 1.4%.

Author: Jean-Philippe Pourcelot, Economist

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Ireland Industrial production Chart

Ireland Industry December 2016

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

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