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.
Author: Cecilia Simkievich, Economist