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.