Ireland Industrial production July 2016


Ireland: Industrial production improves further in July

September 8, 2016

Industrial production increased 3.7% over the previous month in seasonally-adjusted terms in July, which was below the revised 8.2% expansion recorded in June (previously reported: +7.5% month-on-month) but well above the 1.9% contraction registered in May. According to the Central Statistics Office (CSO), July’s result reflected an outstanding expansion in the modern sector which more than offset a moderate decline in the traditional sector.

In annual terms, industrial production surged 6.5% in July, which came in well above the revised 2.3% increase observed in the previous month (previously reported: +0.7% year-on-year). Meanwhile, annual average growth in industrial production slowed from 19.7% in June to 16.8% in July.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 3.0% in 2016, which is down 1.7 percentage points from last month’s forecast. For 2017, the panel sees industrial production growing 1.7%.

Author: Jean-Philippe Pourcelot, Economist

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Ireland Industrial production Chart

Ireland Industry July 2016

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

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