Ireland's industrial production shrank 6.3 percent from a year earlier in August 2019, following a revised 0.3 percent contraction in the prior month, due to a sharp decline in manufacturing output (-7.2 percent vs -1.5 percent). Within manufacturing, production fell for rubber & plastic products (-12.4 percent vs -10.9 percent), while increases were seen in basic metals & fabricated metal products (13.8 percent vs 27.0 percent), food products (2.2 percent vs 11.4 percent), transport equipment (5.6 percent vs 0.1 percent) and electrical equipment (3.7 percent vs -5.0 percent). On a monthly basis, industrial production advanced 1.1 percent, after a 1.7 percent surge in July. Industrial Production in Ireland averaged 7.30 percent from 1981 until 2019, reaching an all time high of 60 percent in February of 2015 and a record low of -19.10 percent in January of 2017.
Industrial Production in Ireland is expected to be 9.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Ireland to stand at 3.60 in 12 months time. In the long-term, the Ireland Industrial Production is projected to trend around 3.00 percent in 2020, according to our econometric models.