Industrial production fell by 0.1% m/m in October on a seasonally adjusted basis. This resulted in stronger growth of 2.9% yoy, above the annualized growth of 1.2% over the past three months (which would be the future twelve-month annualized growth if the month-on-month momentum of the past three months is maintained). Construction output then fell by 0.4% yoy. Because of this, we observe it growing at a more moderate 7.5% y/y, above the annualized decline of 6.2%.Retail sales excluding autos rose by 0.4% m/m in October on a seasonally adjusted basis, while sales in the core segment (excluding food, fuel and autos) rose by 0.6% m/m on a seasonally adjusted basis. This resulted in stronger retail sales growth of 3.1% y/y, below the annualized growth of 3.2%. Year-over-year core sales growth strengthened to 4.2%, below annualized growth of 4.6%.Services sales (both consumer and business) rose 0.7% m-o-m in October on a seasonally adjusted basis. As a result, we see them growing at a stronger annualised rate of 1.3%, below the annualized growth rate of 1.6%.
This available data shows a level of industrial production 0.5% above the January-February 2020 pre-forecast level. Other sectors show the following differences to the pre-forecast period: 1.6% for retail sales excluding autos (7.5% for its core segment), 6.1% for services sales and 4.4% for construction production.

CSO

The index is in the form of a 3-month average. Data are in constant prices, adjusted for calendar and seasonal effects. Core retail trade corresponds to "retail trade for non-food goods", i.e. retail trade excluding cars, food and fuel.

Economics

Monthly

Industrial production
Gross domestic product development
Trust indicators
CBA forecast: gross domestic product