Ireland Industrial production May 2016


Ireland: Industrial production contracts in May

July 5, 2016

Industrial production dropped 1.9% over the previous month in seasonally-adjusted terms in May, which contrasted the revised 19.2% expansion tallied in April (previously reported: +6.7% month-on-month). According to the Central Statistics Office (CSO), May’s result reflected contractions in the traditional and modern sectors.

In annual terms, industrial production tallied a 6.5% increase in May, which came in above the revised 4.8% increase recorded in April (previously reported: +4.4% year-on-year). Meanwhile, annual average growth in industrial production edged up from 14.0% in April to 14.6% in May.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 4.4% in 2016, which is unchanged from last month’s forecast. For 2017, the panel sees industrial production growing 1.6%.

Author: Jean-Philippe Pourcelot, Economist

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Ireland Industrial production Chart

Ireland Industry May 2016

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

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