The latest Eurostat data on industrial production and GDP are now available. GDP growth decelerated fairly sharply in 2010:Q3, down to 0.4% from 1% in Q2. As always the Irish data will only be available with a lag, which is unsatisfactory.
Industrial production was down 0.9% in September as compared with October, with consumer durables production leading the decline at 3%. A glance at the table shows how volatile Irish industrial production data are in comparison with the data elsewhere, implying that the monthly data are not informative for this country. The annual recovery in Irish industrial output has been quite respectable, however.
The implications of this deceleration for the Eurozone periphery are too obvious to need spelling out, although the FT does so here.