Ireland Industrial production May 2018

Ireland

Ireland: Industrial production growth loses considerable pace in May

July 5, 2018

The highly volatile Irish manufacturing industries production index increased 3.4% over the previous month in seasonally-adjusted terms in May, following a revised 10.1% month-on-month expansion in April (previously reported: +9.2% month-on-month). According to the Central Statistics Office (CSO), May’s print was underpinned by weak growth in the modern sector and a robust pace of expansion in the traditional sector relative to the previous month. Wood and wood products, except furniture in the traditional sector registered the biggest upturn, while electrical equipment in the modern sector saw the largest contraction.

In annual terms, industrial output rebounded, growing 7.1% in May which contrasted a revised 4.0% contraction in April (previously reported: +3.8% year-on-year). Meanwhile, annual average growth in industrial production rose to minus 1.1% in May, up from minus 2.0% in April.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 2.2% in 2018, which is down 0.6 percentage points from last month’s forecast. For 2019, the panel also sees industrial production growing 3.1%.


Author:, Economist

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Ireland Industrial production Chart


Ireland Industry May 2018

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


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