Argentina: Industrial output records slowest expansion since January in October
Industrial output rose 3.5% compared to the same month a year earlier in October, which followed September’s 4.3% increase. October’s outturn marked the worst reading since January. The figure was partly due to a deterioration in machinery and equipment production, as it expanded at the slowest pace since July 2020. In addition, basic metals output lost steam. Lastly, food and beverages production gained pace, while automotive vehicles production gained steam.
On a monthly basis, industrial output fell 1.1% in calendar adjusted terms in October, contrasting Septembers 0.1% uptick and marking the worst result since March. Meanwhile, annual average industrial production growth fell to 6.4% in October (September: +6.5%), which marked an over one-year low.