Argentina Industrial production June 2022

Argentina

Argentina: Industrial output growth loses pace in June

August 11, 2022

Industrial output grew 6.9% in year-on-year terms in June, which was a deterioration from May's 12.1% increase. The figure was due to weaker chemical products output. Moreover, food and beverages output growth lost steam, while automotive vehicles output growth decelerated. In contrast, machinery and equipment production gained steam.

On a monthly basis, factory output increased 2.6% in calendar-adjusted terms in June, contrasting May’s 0.7% fall. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 8.0%, down from May's 9.0%.

LatinFocus Consensus Forecast panelists expect industrial production to expand 2.7% in 2022, which is down 0.5 percentage points from last month’s forecast. For 2023, the panel forecasts industrial output to rise 1.4%.


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Argentina Industry June 2022

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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