Argentina: Fall in industrial production moderates markedly in March
April 28, 2017
In March, Argentinian industrial production contracted 0.4% over the same month last year, according to the latest data released by the National Statistical Institute (INDEC). The reading was a significant improvement from the 6.0% fall observed in the previous month, and came in well above the 3.0% drop that market analysts had expected. March’s slight decline marked the fourteenth consecutive monthly decline in industrial production but was also the best result since February 2016.
According to INDEC, March’s smaller drop was the result of greater production of metal and food products compared to February and reduced declines in other sectors such as textiles and petrochemical products.
The accumulative average variation in industrial production in the first three months of the year was minus 2.4%.