Chile sees weak manufacturing output in October

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Tuesday, November 29, 2016

Manufacturing of machinery and equipment in Chile grew 13.5% year-on-year in October, despite posting an overall weak performance in the month.

National statistics bureau INE said in a report that machinery and equipment manufacturing grew thanks to stronger output of parts and pieces on higher demand for drilling equipment, as well as a weak comparison base from October 2015.

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Metal products output grew 0.8% year-on-year in the month, while common metals production was down 3.9%.

Non-metallic mineral products saw a decrease of 4.9%.

Overall, Chile's manufacturing index fell 6.9% in October from 12 months before, its weakest monthly reading since 2010, on lingering effects of a volcano eruption in 2015 which led to massive losses in the country's salmon industry.

Manufacturing output was also impacted by two fewer working days in the year-on-year comparison.