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Argentina Industrial production March 2021

Argentina: Industrial output soars on low-base effect in March

Industrial output jumped 32.8% year-on-year in March, following February’s 1.6% expansion. March’s reading benefited from an extremely low-base effect as March 2020 was the first month of the Covid-19 pandemic and was driven by a broad-based increase in production in all sub-categories.

On a calendar-adjusted monthly basis, industrial output expanded 0.7% in March (February: -1.5% mom). Meanwhile, the trend improved, with the annual average variation of industrial production coming in at minus 2.6% in March, up significantly from February’s minus 6.7% reading.

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