Argentina Industrial production August 2020


Argentina: Pace of contraction in industrial output sharpens in August

October 8, 2020

Industrial output decreased 7.1% year-on-year in August (July: -6.6% yoy). The steepest contractions were recorded in the production of textiles and automotive and other transport equipment.

On a calendar-adjusted monthly basis, industrial output fell 0.9% in August (July: +1.4% mom). Meanwhile, the trend deteriorated somewhat, with the annual average variation of industrial production coming in at minus 8.9% in August, down from July's minus 8.8% reading.

Panelists participating in the LatinFocus Consensus Forecast expect that industrial production will contract 8.5% in 2020, which is down 2.2 percentage points from last month’s forecast. For 2021, the panel expects industrial output to rise 3.3%.

Author: Massimo Bassetti, Senior Economist

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Argentina Industrial production Chart

Argentina Industry August 20 20

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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