Argentina Industrial production September 2021

Argentina

Argentina: Industrial output records lowest growth since February in September

November 10, 2021

Industrial production expanded 10.1% year-on-year in September (August: +13.8% yoy). September's figure marked the worst reading since February. Looking at the details of the release, the reading largely reflected growing output in the manufacture of metal products, textile and automotive and other transport equipment.

On a monthly basis, industrial production increased 1.1% in calendar-adjusted terms in September, rebounding from August’s 0.9% fall. Meanwhile, annual average industrial production growth rose to 14.2% in September (August: +13.6%). This signals an improving trend in the industrial sector.

Panelists participating in the LatinFocus Consensus Forecast expect that industrial production will expand 2.5% in 2022, which is down 0.3 percentage points from last month’s forecast. For 2023, the panel forecasts industrial output to rise 2.2%.


Author: Massimo Bassetti, Senior Economist

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Argentina Industry September 2021

Note: Year-on-year changes and annual average variation of industrial production in %.
Source: Argentina National Statistical Institute (INDEC) and FocusEconomics calculations.


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