Argentina: Industrial output growth deteriorates in July
Industrial output grew 5.1% year on year in July (June: +7.3% yoy). The result was chiefly driven by weaker machinery and equipment output growth. In addition, chemical products output lost pace. Lastly, food and beverages output lost steam, while automotive vehicles production grew.
On a monthly basis, factory output fell 1.2% in calendar-adjusted terms in July, contrasting June’s 2.9% expansion. Meanwhile, annual average industrial production growth fell to 7.4% in July (June: +8.1%), which marked an over one-year low.