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