Argentina Industry August 2016

Argentina

Argentina: Industrial production contracts less in August

In August, industrial production contracted 5.7% over the same month of the previous year, according to the latest data released by the National Statistical Institute (INDEC). The reading was an improvement over the 7.9% decrease observed in the previous month.

According to INDEC, August’s contraction was due to an increase in the food industry, which expanded 0.4% on an annual basis. The refinery industry dropped again in August, but the contraction was softer compared to the decrease recorded in the previous month.

Panelists participating in the LatinFocus Consensus Forecast expect that industrial production will decrease 1.1% in 2016, which is unchanged from last month’s forecast. For 2017, the panel expects industrial output to expand 2.5%.


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Argentina Industry August 2016 0

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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