Argentina: Drop in industrial output continues in January, albeit a slightly slower pace
March 2, 2015
In January, industrial production fell 2.1% over the same month of last year. The reading marked a slight improvement compared to the 2.4% drop tallied in December and overshot the 2.8% fall that markets had expected. January’s result marked the 18th consecutive decrease in industrial output. However, it also represented the highest reading in seven months. As in previous months, January’s decline in industrial production mainly reflected a sharp contraction in the automobile industry. The food industry, the oil sector, and the chemical and rubber industries posted increases, but this was not enough to offset the contraction in the automobile sector.
On a monthly basis, industrial production rose 1.1% in seasonally-adjusted terms in January, which contrasted the 0.9% drop recorded in December. Annual average variation in industrial production remained steady at December’s minus 2.5%.
Author: Cecilia Simkievich, Economist