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.