Argentina: Growth in industrial production slows in November
January 10, 2018
In November, industrial production grew 3.5% over the same month in the previous year, according to the latest data released by the National Statistical Institute (INDEC). The reading came in below the 4.4% year-on-year growth observed in October. November’s print marked the seventh consecutive month of growth in industrial output, following 15 consecutive contractions.
The monthly reading reflected higher output in fewer than half of all components of the index. The basic metallurgic industry expanded 15.7% annually, and output in non-metallic mineral products rose 11.4% in year-on-year terms. The all-important food industry declined 1.6% in the surveyed period, and production of chemical products and substances dipped 3.5%.
The accumulated average annual variation in industrial production over the January–November period was 1.9%, just above the 1.8% reading observed in the January–October period.
Argentina Industrial Production Forecast
Panelists participating in the LatinFocus Consensus Forecast expect industrial production to expand 1.9% in 2018, which is up 0.2 percentage points from last month’s forecast. For 2019, the panel expects industrial output to rise 2.4%.