Ireland Industrial production February 2016


Ireland: Industrial production contracts sharply in February

April 11, 2016

Industrial production in February fell a stark 10.5% over the previous month in seasonally-adjusted terms, which contrasted with the revised 14.5% rise tallied in January (previously reported: +12.7% month-on-month). According to the Central Statistics Office (CSO), February’s result reflected contractions in the traditional and the modern sector, with the latter contracting at the fastest rate since December 2014.

In annual terms, industrial production tallied a 1.3% drop in February, which contrasted with the revised 44.1% increase recorded in January (previously reported: +43.9% year-on-year). February’s print marked the lowest reading since October 2013. Meanwhile, annual average growth in industrial production slid from 21.3% in January to 18.0% in February.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 4.4% in 2016, which is down 0.1 percentage points 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 February 2016

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

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