Ireland Industrial production March 2017


Ireland: Industrial production rebounds in March

May 8, 2017

The highly volatile Irish industrial production index rose 1.7% from the previous month in seasonally-adjusted terms in March, contrasting the revised 12.7% drop observed in February (previously reported: -15.5% month-on-month). According to the Central Statistics Office (CSO), March’s increase reflected a strong rebound in manufacturing and an expansion in electricity, gas, steam and air conditioning.

In annual terms, industrial output swung from a sharp 9.0% decline in February to a 3.1% increase in March. Meanwhile, annual average growth in industrial production edged up from a 2.4% decline in February to a softer 0.6% drop in March.

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 march 2017 0

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

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