Argentina Industrial production April 2021

Argentina

Argentina: Industrial output skyrockets on low base effect in April

June 9, 2021

Industrial output skyrocketed 55.9% year-on-year in April, following March’s 33.0% jump. April’s reading benefited from an extremely low base effect and was driven by a broad-based surge in production in all sub-categories.

On a calendar-adjusted monthly basis, industrial output expanded 0.3% in April (March: +0.8% mom). Meanwhile, the trend improved, with the annual average variation of industrial production coming in at 4.9% in April, from March's minus 2.6% reading.

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 Industry April 2021 0

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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