Argentina: Contraction in industrial production sharpens in December
Industrial production plunged a multi-year low of 14.7% over the same month of last year in December, according to data released by the National Statistical Institute (INDEC) on 5 February, marking a steeper fall than November’s 13.9% year-on-year decline.
December’s result reflected contractions in all components of the index. The categories of textile; machinery and equipment; other equipment, instruments and apparatus; other transport equipment; and furniture and mattresses, and other manufacturing industries recorded the biggest drops. The decline in production of other transport equipment was especially sharp. A marked fall in domestic demand was again behind the contraction in industrial output.
On 5 February, the Statistical Institute revised its methodology of calculating industrial production. The new methodology, among other innovations, includes results from previously unrecorded sectors.