Argentina: Historic blow to industrial production in April amid lockdown
Industrial production collapsed a record-low 33.5% year-on-year in April, according to data released by the National Statistical Institute (INDEC) on 4 June. The reading follows March’s already sharp 16.5% year-on-year plunge.
April saw a broad-based contraction in all sub-components of the index. The steepest freefalls were recorded in the production of textiles, automotive and other transport equipment and other equipment, apparatus and instruments.
Meanwhile, the annual average variation in industrial output dropped from March’s minus 4.9% to minus 6.9% in April.