Argentina Industrial production May 2022

Argentina

Argentina: Industrial output records quickest growth since August 2021 in May

June 10, 2022

Industrial production rose 11.9% year on year in May (April: +4.8% yoy). The figure marked the best result since August 2021. Looking at the details of the release, machinery and equipment output increased at a softer pace in May, while basic metals output gained steam. Lastly, food and beverages output rose at a stronger rate, while automotive vehicles output lost steam.

On monthly basis, factory output declined 1.1% in calendar-adjusted terms in May, contrasting April’s 2.9% increase. Meanwhile, annual average industrial production growth fell to 9.0% in May (April: +10.2%), signaling a worsening trend in the industrial sector.

LatinFocus Consensus Forecast panelists expect industrial production to expand 2.9% in 2022, which is unchanged from last month’s forecast. For 2023, the panel forecasts industrial output to rise 1.9%.


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Argentina Industry May 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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