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Argentina Industrial production May 2023

Argentina: Industrial output growth moderates in May

Industrial output expanded 1.2% year on year in May (April: +1.8% yoy). Looking at the details of the release, machinery and equipment production decreased at a softer pace in May, while basic metals output lost steam. Lastly, food and vehicle output gained pace.

On a monthly basis, industrial output dropped 1.5% in calendar adjusted terms in May, contrasting April’s 1.1% expansion and marking the worst result since January 2022. Meanwhile, annual average industrial production growth fell to 2.9% in May (April: +3.8%). This signals a worsening trend in the industrial sector.

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