Argentina: Industrial output contracts at sharpest pace since December 2022 in June
Industrial output dropped 2.3% compared to the same month a year earlier in June, which contrasted May’s 1.1% increase. June’s figure marked the worst reading since December 2022. The notable downturn came on the back of contractions in machinery and equipment, chemical products and food and beverages output.
On a calendar adjusted monthly basis, industrial production fell at a softer rate of 1.3% in June (May: -1.6% mom). Meanwhile, annual average industrial production growth fell to 2.1% in June (May: +2.9%). This signals a worsening trend in the industrial sector.