Argentina: Industrial output growth slides to six-month low in September

Industrial output expanded 4.2% compared to the same month of the previous year in September, which was a deterioration from August's 7.8% increase. September's figure marked the worst reading since March. The reading largely reflected weaker machinery and equipment output. In addition, chemical products output lost pace. Lastly, food and beverages output lost pace, while automotive vehicles production moderated.

On a monthly basis, industrial production dropped 0.2% in calendar adjusted terms in September, contrasting August’s 0.5% expansion. Meanwhile, annual average industrial production growth fell to 6.5% in September (August: +7.0%), which marked an over one-year low.

LatinFocus Consensus Forecast panelists expect industrial production to expand 0.7% in 2023, which is up 0.1 percentage points from last month’s forecast. For 2024, the panel forecasts industrial output to rise 1.4%.