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.