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.