Ireland Industrial production January 2017


Ireland: Industrial production rebounds in January

March 10, 2017

The highly volatile Irish industrial production index expanded 3.4% from the previous month in seasonally-adjusted terms in January, contrasting the revised 9.6% decline observed in December (previously reported: -11.7% month-on-month). According to the Central Statistics Office (CSO), January’s expansion reflected higher output in the traditional and modern sectors.

In annual terms, industrial production swung from a revised 0.9% expansion in December (previously reported: -1.3% year-on-year) to a sharp 9.4% contraction, the worst reading in 10 months. Meanwhile, annual average growth in industrial production plunged from a 4.5% expansion in December to a 2.2% decline in January, the worst print since December 2013.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 2.2% in 2017, which is up 0.4 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 January 2017

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

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