Argentina: Drop in industrial production softens in November
December 28, 2016
In November, industrial production contracted 4.1% 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 8.0% decrease observed in the previous month but exceeded the 3.7% fall that market analysts had expected. Although November’s drop marked the tenth consecutive decline, it represented the smallest contraction since April 2016.
According to INDEC, November’s print reflected an expansion in the food, automotive and chemical industries. The drop in refinery was steady in the same month.
The accumulative average variation in industrial production in the first eleven months of the year was minus 4.9%, which mirrored the result in the January-October period.