Ireland's industrial production rose 6.3 percent from a year earlier in May 2019, following an upwardly revised 7.8 percent growth in the previous month. Manufacturing output increased 6.1 percent (vs 7.5 percent in April), boosted by paper and paper products; Printing and reproduction of recorded media (12.8 percent vs 23.0 percent); basic metals and fabricated metal products (9.5 percent vs 22.9 percent); and electrical equipment (35.1 percent vs 16.2 percent). Also, electricity, gas, steam and air conditioning supply grew 16.5 percent, faster than 13.3 percent in April. On a monthly basis, industrial production rose 2.3 percent in May, the fifth consecutive month of expansion. Industrial Production in Ireland averaged 7.36 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.