Argentina Industry

Argentina

Argentina: Contraction in industrial output continues in December

January 23, 2015

In December, industrial production fell 2.4% over the same month of the previous year. The reading was below both the 2.1% drop recorded in November and the 1.1% drop that the markets had expected. December’s result marked the 17th consecutive decrease in industrial output. The majority of the sectors that comprise the overall index deteriorated compared to the same month of 2013, except for the food industry, the oil sector and the chemical and rubber industries. The largest decrease was recorded in the automobile sector.

On a monthly basis, industrial production dropped 1.0% in seasonally-adjusted terms in December, which was slightly above the 1.1% drop recorded in November. Despite the deterioration in annual figures, annual average variation in industrial production edged up from minus 2.8% in November to minus 2.5% in December.

LatinFocus Consensus Forecast panel participants expect that industrial production will decrease 0.7% in 2015, which is unchanged from last month’s forecast. For 2016, the panel expects industrial production to increase 2.8%.


Author:, Economist

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Argentina Industry December 2014

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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