Ireland Industrial production March 2019

Ireland

Ireland: Industrial sector returns to growth in March

May 7, 2019

The highly volatile Irish manufacturing industries production index rose 1.3% in seasonally-adjusted, month-on-month terms in March. It rebounded from a revised 0.2% decline in February (previously reported: -0.3% month-on-month).

March’s upturn was underpinned by a return to growth in the modern sector, which more than offset a notable slowdown in the traditional sector. Looking at a more detailed breakdown of the sub-components, basic metals and fabricated metal products grew at the strongest pace, followed by food products. On the flip side, electrical equipment logged the sharpest drop in output, followed closely by a steep fall in paper and paper products; printing and reproduction of recorded media.

In annual terms, industrial output growth surged to 18.5% in March, from a meagre 1.0% in February. Meanwhile, the annual average variation in industrial output was minus 1.7% in March, down from minus 0.9% in February.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 2.2% in 2019, which is down 0.4 percentage points from last month’s forecast. For 2020, the panel sees industrial production growth rising to 2.7%.


Author:, Economist

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Ireland Industrial production Chart


Ireland Industry March 2019 0

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


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