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.