Argentina Industry January 2019


Argentina: Contraction in industrial production eases in January

March 6, 2019

Industrial production plummeted 10.8% over the same month of last year in January, according to data released by the National Statistical Institute (INDEC) on 6 March. The reading marked a less steep fall than December’s revised multi-year low of a 14.8% year-on-year decline (previously reported: -14.7% year-on-year).

January’s result reflected contractions in all components of the index. The categories of metal products and machinery and equipment; other equipment, instruments and apparatus; automotive and other transport equipment recorded the biggest drops. The production of automotive and other transport equipment shrunk by almost 30%. A marked fall in domestic demand was again behind the contraction in industrial output.

Meanwhile, the annual average variation in industrial output fell to a 5.9% contraction in January from a 4.7% in December.

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, Senior Economist

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Argentina Industry Chart

Argentina Industry January 2019

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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