Argentina Industry April 2019


Argentina: Contraction in industrial production eases in April

June 5, 2019

Industrial production fell 8.8% over the same month of last year in April, according to data released by the National Statistical Institute (INDEC) on 5 June. The reading marked a softer contraction than March’s revised 13.9% year-on-year plunge (previously reported: -13.4% year-on-year).

April’s result reflected softer contractions across the board. That said, the categories of automotive and other transport equipment; furniture and other manufacturing industries; and other equipment, instruments and apparatus, all contracted by over 20%. A marked fall in domestic demand remained the main culprit of the negative performance in the industrial sector.

Meanwhile, the annual average variation in industrial output worsened to minus 9.5% in April, from minus 8.4% in March.

Panelists participating in the LatinFocus Consensus Forecast expect that industrial production will contract 0.5% in 2019, which is down 0.7 percentage points from last month’s forecast. For 2020, the panel expects industrial output to rise 2.1%.

Author: Massimo Bassetti, Economist

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Argentina Industry Chart

Argentina Industry April 2019 0

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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