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Argentina Industrial production December 2023

Argentina: Industrial activity drops at sharpest pace since May 2020 in December

Industrial output dived 12.8% in year-on-year terms in December, which followed November’s 4.8% decrease. The downturn marked the worst reading since May 2020. December’s notable downturn was primarily driven by drops in machinery and equipment and basic metals production. Lastly, sales of food and beverages and automotive vehicles also fell.

On a calendar-adjusted monthly basis, factory output nosedived 5.4% in December (November: -1.1% mom), the worst result since May. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at an over two-year low of minus 1.8%, down from November’s minus 1.0%.

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