Ireland: Industrial output rebounds in May
Latest reading: Industrial production grew 12.4% month on month in seasonally adjusted terms in May (April: -12.5% mom s.a.). May’s notable rebound was largely driven by a notable rebound in modern sector output. The modern sector’s output tends to be volatile—even more so now as Trump’s tariffs wreak havoc on trade flows—due to the presence of multinational-dominated industries, such as chemicals, pharmaceuticals and computers and electronics.
On an annual basis, overall industrial production rose 36.9% in May, which was significantly better than April’s 17.6% expansion. Accordingly, annual average industrial production growth rose to 13.4% in May (April: +9.5%). This signals an improving trend in the industrial sector.