Argentina Industry July 2018



September 4, 2018

Industrial production contracted 5.7% over the same month of last year in July, according to data released by the National Statistical Institute (INDEC) on 4 September. The drop was smaller than June’s 8.1% year-on-year decline.

July’s reading reflected contractions in almost all components of the index. The tobacco industry recorded a significant decline in output, along with the textile industry and oil refining sector. The drop in production of processed crude oil was owing to plant shutdowns in June. Output of food also contracted, mainly due to a double-digit decline in milling of cereals and oilseeds. On the other hand, the basic metal industries and automotive industry recorded significant expansions in output.

Panelists participating in the LatinFocus Consensus Forecast expect industrial production to expand 0.1% in 2018, which is unchanged from last month’s forecast. For 2019, the panel expects industrial output to rise 1.9%.

Author: Massimo Bassetti, Senior Economist

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Argentina Industry Chart

Argentina Industry July 2018

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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