Argentina Industry March 2017

Argentina

Argentina: Growth in industrial output moderates in March

May 2, 2018

In March, industrial production expanded 1.2% over the same month last year, according to data released by the National Statistical Institute (INDEC) on 2 May. Although the figure was a deceleration from the strong 5.3% year-on-year growth observed in February, it marked the 11th consecutive month of expansion in industrial output.

March’s slowdown reflected slower growth in most components in the index. Output in the automotive industry slowed from a 61.3% increase in February to a still-strong 26.0% rise in March. Growth in the production of non-metallic mineral products reached 3.9% annually, down from 12.5% in February. The food industry swung from a 2.5% expansion in February to a 1.0% decline in March.

Panelists participating in the LatinFocus Consensus Forecast expect industrial production to expand 2.4% in 2018, which is up 0.2 percentage points from last month’s forecast. For 2019, the panel expects industrial output to rise 2.0%.


Author: Jean-Philippe Pourcelot, Economist

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Argentina Industry February 2018 1

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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