Ireland Industrial production February 2019

Ireland

Ireland: Industrial sector swings to contraction in February

April 4, 2019

The highly volatile Irish manufacturing industries production index declined 0.4% in seasonally-adjusted, month-on-month terms, contrasting a 16.3% rise in January.

According to the Central Statistics Office (CSO), February’s downturn reflected a swing to contraction in the modern sector, which offset a slight acceleration in the traditional sector. A detailed breakdown of the sub-components showed that basic metals and fabricated metal products recorded the sharpest contraction, followed by rubber and plastic products. Meanwhile, the categories of tobacco, leather, coke and refined petroleum products, transport equipment, furniture, repair and installation of machinery and equipment, saw the biggest upturn.

In annual terms, industrial output rose 0.8% in February, contrasting an 8.8% year-on-year contraction in January. Meanwhile, the annual average variation in industrial output was minus 0.8% in February, marginally up from minus 0.9% in January.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 2.6% in 2019, which is down 1.2 percentage points from last month’s forecast. For 2020, the panel sees industrial production growth edging up to 2.9%.


Author:, Economist

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Ireland Industrial production Chart


Ireland Industry February 2019 0

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


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