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Argentina Industry September 2019

Argentina: Industrial production contracts at softer pace in September

Industrial production fell 5.1% over the same month of last year in September, according to data released by the National Statistical Institute (INDEC) on 6 November. The reading marked a less pronounced contraction than August’s 6.4% year-on-year drop.

August’s result generally reflected sharper contractions across the board. Refining of petroleum, chemicals, rubber and plastic products was the category that contributed the most to the contraction. Moreover, the category of automotive and other transport equipment and of furniture and other manufacturing industries both contracted at two-digit pace. On the other hand, the production of wood and paper increased.

Meanwhile, the annual average variation in industrial output rose from August’s minus 9.5% to minus 8.9% in September.

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