Ireland Industrial production January 2016


Ireland: Industrial production tallies robust expansion at the onset of the year

March 10, 2016

Industrial production in January expanded a solid 12.7% over the previous month in seasonally-adjusted terms and came in above the revised 0.2% rise tallied in December (previously reported: -4.3% month-on-month). According to the Central Statistics Office (CSO), January’s result reflected healthy expansions in the modern and traditional sectors.

In annual terms, industrial production tallied a massive 43.9% expansion in January, which came in above the revised 21.4% increase recorded in December (previously reported: +18.0% year-on-year). January’s print marks the highest reading ever in the history of the series. The trend keeps pointing upward, as annual average growth in industrial production jumped from December’s 18.1% to 21.2% in January.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 4.5% in 2016, which is down 1.5 percentage points from last month’s forecast. For 2017, the panel sees industrial production growing 1.9%.

Author: Jean-Philippe Pourcelot, Economist

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Ireland Industrial production Chart

Ireland Industry January 2016

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

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