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.
Author: Dirina Mançellari, Senior Economist