Argentina Industrial production September 2020

Argentina

Argentina: Industrial output expands at fastest pace in over two years in September

November 6, 2020

Industrial output rose 3.4% year-on-year in September (August: -7.0% yoy), marking the strongest increase since April 2018. Healthy expansions were recorded in the production of automotive and other transport equipment, food and beverages and oil and chemical products, which more than offset a sizable contraction in the production of textiles.

On a calendar-adjusted monthly basis, industrial output jumped 4.3% in September (August: -0.6% mom). Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 8.2% in September, up from August's minus 8.9% 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 Industry September 20 20

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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