Argentina Industrial production May 2020


Argentina: Pace of contraction in industrial production softens but remains sharp in May

July 7, 2020

Industrial production dived 26.4% year-on-year in May, following May’s record-sharp 33.4% year-on-year plunge.

May saw a broad-based contraction in all sub-components of the index. The steepest freefalls were recorded in the production of textiles, automotive and other transport equipment and other equipment, apparatus and instruments.

Meanwhile, the annual average variation in industrial output dropped from April’s minus 6.9% to minus 8.6% in May.

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 May 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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