Argentina Industrial production May 2021


Argentina: Industrial output growth softens in May

July 12, 2021

Industrial output jumped 30.2% year-on-year in May, following April’s 55.6% surge. May’s reading again benefited from an extremely low base effect and was driven by a broad-based increase in production in all sub-categories.

On a calendar-adjusted monthly basis, industrial output contracted 5.0% in May (April: -1.9% mom). Meanwhile, the trend improved, with the annual average growth in industrial production coming in at 9.6% in May, from April's 4.9%.

Panelists participating in the LatinFocus Consensus Forecast expect that industrial production will expand 6.4% in 2021, which is unchanged from last month’s forecast. For 2022, the panel expects industrial output to rise 4.0%.

Author: Massimo Bassetti, Senior Economist

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Argentina Industrial production Chart

Argentina Industry May 2021

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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