Ireland Industrial production October 2018

Ireland

Ireland: Industrial production swings to contraction in October

December 5, 2018

The highly volatile Irish manufacturing industries production index contracted from the previous month in October, declining 0.2% in seasonally-adjusted, month-on-month terms. This contrasts September’s revised 2.7% expansion (previously reported: +2.3% month-on-month). According to the Central Statistics Office (CSO), the downturn in October was owing to a marked slowdown in both the traditional and modern sector. Behind the decline were double-digit contractions in the output of wood and wood products, and transport equipment.

Industrial output continued to lose momentum in annual terms, growing 5.5% year-on-year in October, following a revised 7.4% expansion in September (previously reported: +6.7% year-on-year). Meanwhile, annual average growth in industrial production rose to 3.2% in October from 2.0% in September.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 3.6% in 2019, which is up 0.4 percentage points from last month’s forecast. For 2020, the panel sees industrial production growth slowing to 2.8%.


Author:, Economist

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Ireland Industrial production Chart


Ireland Industry October 2018

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


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