Argentina: Industrial output bounces back in January
Industrial output increased 6.2% year on year in January (December: -2.7% yoy). The reading reflected a broad-based upturn, with activity in the machinery and equipment, basic metals and chemical products sub-sectors all improving in January. Lastly, food and beverages production gained steam, while automotive vehicles production gained steam.
On a monthly basis, industrial output grew 0.7% in calendar adjusted terms in January, contrasting December’s 1.2% fall and marking the best result since June 2022. Meanwhile, annual average industrial production growth rose to 4.9% in January (December: +4.4%), which marked a ten-month high.