FX.co ★ Finland Industrial Production Falls In October

Finland's industrial production declined for the first time in one-and-a-half years in October, largely impacted by a plunge in mining and quarrying output, data from Statistics Finland showed on Friday.

Industrial production dropped a working-day-adjusted 0.6 percent year-over-year in October, reversing a 4.2 percent rise in September.

Among the main industries, mining quarrying output fell sharply by 29.6 percent annually in October, and production in the utility sector was 3.1 percent lower.

Meanwhile, output produced in the manufacturing sector logged a growth of 0.6 percent.

On a monthly basis, industrial production contracted 2.3 percent from September, when it increased by 1.3 percent.

Separate data from the statistical office showed that manufacturing new orders climbed 6.5 percent annually in October, though slower than the 13.5 percent increase in September.

The paper industry logged the biggest growth in orders at 11.9 percent.