Argentina Industry May 2016

Argentina

Argentina: Contraction in industrial production eases in May

June 30, 2016

In May, industrial production contracted 4.3% over the same month of the previous year according to the latest data released by the National Statistical Institute (INDEC). The reading was an improvement over the 7.3% decrease observed in the previous month (previously reported: -6.7% year-on-year), which had marked the sharpest decrease so far this year.

According to INDEC, May’s softer contraction was due to an improvement in the food industry, which swung to a 0.6% increase. Moreover, the refinery industry contracted 3.7% in May, which marked a softer contraction compared to the 9.6% drop seen in April. Conversely, the tobacco industry swung from a 4.6% increase in April to a 4.0% decrease in May.

Panelists participating in the LatinFocus Consensus Forecast expect that industrial production will decrease 1.1% in 2016, which is unchanged from last month’s forecast. For 2017, the panel expects industrial output to expand 2.5%.


Author:, Senior Economist

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Argentina Industry May 2016

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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