Ireland: Industrial production decelerates markedly in September
November 7, 2018
The highly volatile Irish manufacturing industries production index decelerated from the previous month in September, growing 2.3% in seasonally-adjusted, month-on-month terms. September’s mild growth follows August’s revised 9.3% expansion (previously reported: +8.9% month-on-month). According to the Central Statistics Office (CSO), the downturn in September was due to a contraction in the traditional sector, which eroded the gains made by the modern sector. Among all the categories, wood and wood products except furniture registered the swiftest pace of expansion, while output of electrical equipment saw the biggest contraction.
Industrial output also lost pace in annual terms, growing 6.7% year-on-year in September following a revised 14.0% expansion in August (previously reported: +13.3% year-on-year). Meanwhile, annual average growth in industrial production inched up to 2.0% in September, from 1.9% in August.
Author: Nihad Ahmed, Economist