Ireland Industrial production February 2017


Ireland: Industrial production plummets in February

April 12, 2017

The highly volatile Irish industrial production index plunged 15.5% from the previous month in seasonally-adjusted terms in February, contrasting the revised 3.4% increase observed in January. According to the Central Statistics Office (CSO), February’s contraction reflected a drop in the traditional and modern sector, the latter of which dropped at a double-digit rate in the surveyed month.

In annual terms, industrial output worsened from a revised 9.3% drop in January (previously reported: -9.4% year-on-year) to a sharper 9.9% contraction, the worst reading in 11 months. Meanwhile, annual average growth in industrial production edged down from a 2.4% decline in January to a 2.5% drop in February, the worst print since October 2013.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 2.3% in 2017, which is up 0.1 percentage points from last month’s forecast. For 2018, the panel sees industrial production growing 1.2%.

Author: Jean-Philippe Pourcelot, Economist

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Ireland Industrial production Chart

Ireland Industry February 2017 0

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

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