Argentina: Growth in industrial output moderates in March
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.