Argentina: Growth in industrial output picks up in April
In April, industrial production expanded 3.4% over the same month last year, according to data released by the National Statistical Institute (INDEC) on 1 June. The figure came in above March’s 1.2% year-on-year growth and marked the 12th consecutive expansion in industrial output.
April’s upturn reflected faster growth in key components of the index. Output in the automotive industry edged up from a 26.0% increase in March to 27.2% rise in April. Growth in the production of non-metallic mineral products reached 11.0% annually, above March’s 3.9% increase. The food industry swung from a 1.0% output contraction in March to a 2.9% increase in April.