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Argentina Industrial production August 2023

Argentina: Decline in industrial activity softens in August

Industrial production decreased 3.1% year on year in August (July: -3.9% yoy). The softer drop was primarily due to more moderate contractions in machinery and equipment and basic metals output. Lastly, food and beverages output gained pace, while automotive vehicles production increased.

On a calendar adjusted monthly basis, factory output rebounded, rising 0.5% in August (July: -1.3% mom). Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at a two-year low of 0.4%, down from July’s 1.3%.

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