Ireland Industrial production May 2017


Ireland: Industrial production expands in May

July 5, 2017

The highly volatile Irish industrial production index rose 2.1% from the previous month in seasonally-adjusted terms in May, coming in below the 7.4% expansion observed in April (previously reported: +7.7% month-on-month). According to the Central Statistics Office (CSO), May’s increase reflected an increase in both the modern and traditional sector.

In annual terms, industrial output swung from a revised 1.3% decline in April (previously reported: -1.0% year-on-year) to a strong 5.5% expansion in May. Meanwhile, annual average growth in industrial production edged up from a 0.7% decline in April to a 0.3% drop in May.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 0.3% in 2017, which is down 1.0 percentage points from last month’s forecast. For 2018, the panel sees industrial production growing 2.3%.

Author: Jean-Philippe Pourcelot, Economist

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Ireland Industrial production Chart

Ireland Industry May 2017

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

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