Argentina Industry March 2017

Argentina

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%.

Panelists participating in the LatinFocus Consensus Forecast expect industrial production to expand 2.9% in 2017, which is down 0.1 percentage points from last month’s forecast. For 2018, the panel expects industrial output to rise 2.6%.


Author: Massimo Bassetti, Economist

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Argentina Industry March 2017

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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