Argentina Industrial production January 2021

Argentina

Argentina: Industrial output expands again in January

February 23, 2021

Industrial output grew 4.4% year-on-year in January, following December’s 5.0% expansion, which had marked the strongest increase since February 2018. January’s reading was driven by surging production of automotive and other transport equipment and of metal products.

On a calendar-adjusted monthly basis, industrial output rose 1.7% in January (December: +1.1% mom). Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 6.9% in January, up from December's minus 7.2% reading.

Panelists participating in the LatinFocus Consensus Forecast expect that industrial production will expand 6.4% in 2021, which is unchanged from last month’s forecast. For 2022, the panel expects industrial output to rise 4.0%.


Author: Massimo Bassetti, Senior Economist

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Argentina Industrial production Chart


Argentina Industry January 2021

Note: Year-on-year changes and annual average variation of industrial production in %.
Source: Argentina National Statistical Institute (INDEC) and FocusEconomics calculations.


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