Argentina Industry December 2016

Argentina

Argentina: Drop in industrial production is smallest in 10 months in December

January 31, 2017

In December, industrial production contracted 2.3% 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 from the 4.1% decrease observed in the previous month but exceeded the 0.8% fall that market analysts had expected. Although December’s drop marked the eleventh consecutive decline, it was the smallest contraction since February 2016.

According to INDEC, December’s print reflected a faster expansion in the food and automotive industries. Conversely, the chemical, refinery and textile sectors all fell significantly.

The accumulative average variation in industrial production in the full year was minus 4.6%, which contrasted the 0.2% increase in 2015.

Panelists participating in the LatinFocus Consensus Forecast expect industrial production to expand 2.6% in 2017, which is down 0.2 percentage points from last month’s forecast. For 2018, the panel expects industrial output to rise 2.3%.


Author: Ricard Torné, Lead Economist

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Argentina Industry December 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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