Argentina Industry June 2016

Argentina

Argentina: Contraction in industrial production steepens in June

July 28, 2016

In June, industrial production contracted 6.4% over the same month of the previous year according to the latest data released by the National Statistical Institute (INDEC). The reading was a deterioration over the revised 4.5% decrease observed in the previous month (previously reported: -4.3% year-on-year).

According to INDEC, June’s steeper contraction was due to a deterioration in the food industry, which dropped 6.4% on an annual basis. Moreover, the mining industry contracted sharply in June. Conversely, the textile industry expanded 1.5% in June.

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 June 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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