Argentina: Industrial output dips in February
Industrial output fell 1.4% year on year in February (January: +6.7% yoy). The figure came on the back of a contraction in machinery and equipment production. In addition, chemical products production contracted at a steeper rate. Lastly, food and beverages output decreased at a sharper rate, while automotive vehicles output decelerated.
On a calendar adjusted monthly basis, industrial output fell 1.3% in February (January: +0.4% mom). Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 4.3% in February, down from January’s 5.0% reading.