Ireland's industrial production shrank 0.7 percent from a year earlier in July 2019, following an upwardly revised 3.3 percent decline in the prior month, as manufacturing output fell at a softer pace (-1.5 percent vs -3.6 percent). Within manufacturing, production rebounded for food products (11.2 percent vs -4.2 percent); transport equipment (0.1 percent vs -3.1 percent) and electrical equipment (16.1 percent vs -13.7 percent) while decreased further for rubber & plastics (-11.3 percent vs -9.3 percent) and paper and paper products (-3.3 percent vs -0.8 percent). On a monthly basis, industrial production rose 1.4 percent, recovering from an upwardly revised 9.7 percent plunge in the previous month. Industrial Production in Ireland averaged 7.33 percent from 1981 until 2019, reaching an all time high of 60 percent in February of 2015 and a record low of -19 percent in January of 2017.
Industrial Production in Ireland is expected to be -2.00 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 2.50 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.