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Argentina Industrial production April 2023

Argentina: Industrial output growth dips in April

Industrial output increased 1.7% in year-on-year terms in April, which was a deterioration from March’s 3.5% increase. April’s slowdown was partly due to a deterioration in machinery and equipment production. Moreover, food and beverages output dropped at a sharper rate, while automotive vehicles output lost traction. In contrast, basic metals output picked up pace.

On a monthly basis, industrial production rose 1.2% in calendar adjusted terms in April, which was below March’s 3.2% expansion. Meanwhile, annual average industrial production growth fell to 3.8% in April (March: +4.0%), which marked a two-year low.

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