Ireland Industrial production October 2016


Ireland: Industrial production contracts in October

December 7, 2016

Industrial production in Ireland declined 3.6% from the previous month in seasonally-adjusted terms in October, contrasting the revised 6.8% expansion in September (previously reported: +6.4% month-on-month). According to the Central Statistics Office (CSO), October’s contraction reflects a drop in the modern and traditional sector, with the former logging the sharpest drop since December 2015.

In annual terms, the contraction in industrial production sharpened from a revised 0.8% decline in September (previously reported: -1.2% year-on-year) to 6.4% in October. Meanwhile, annual average growth in industrial production moderated from 9.6% in September to 6.2% in October, the lowest print in two and a half years.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 0.9% in 2016, which is unchanged from last month’s forecast. For 2017, the panel sees industrial production growing 2.7%, which is also unchanged from last month’s forecast.

Author: Jean-Philippe Pourcelot, Economist

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Ireland Industrial production Chart

Ireland Industry October 2016 0

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

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