Ireland: Industrial output rebounds in June
August 7, 2013
In June, industrial production increased a seasonally and working-day adjusted 3.1% over the same month last year, which contrasts May's significant decrease of 8.0%. According to the Central Statistics Office (CSO), the reading reflects output growth in both the "modern" and "traditional" sectors.
On a monthly basis, industrial production surged 8.7% over the previous month in seasonally adjusted terms, which contrasts the 2.1% decrease tallied in May. Annual average growth in industrial production fell from minus 3.5% in May to minus 3.6% in June, accelerating the downward trend slightly.
FocusEconomics Consensus Forecast panellists expect industrial production to contract 0.6% in 2013, which is up 0.2 percentage points from last month's forecast. For 2014, the panel sees industrial production rising 2.3%.
Author: Carl Kelly, Economist