Argentina: Decline in industrial output softens in May
Industrial output dropped 14.8% in year-on-year terms in May, which was a less pronounced contraction than April’s 16.6% decrease. May’s smaller drop was largely due to weaker contractions in machinery and equipment and food and beverages production.
On a monthly basis, factory output dropped 0.2% in seasonally adjusted terms in May, which was below April’s flat reading. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 8.7%, down from April’s minus 7.4%.