Argentina Industry February 2017

Argentina

Argentina: Industrial output declines at faster pace in February

March 30, 2017

In February, industrial production in Argentina contracted 6.0% over the same month last year, according to the latest data released by the National Statistical Institute (INDEC). The reading was a significant deterioration from the 1.1% decrease observed in the previous month, which had marked an 11-month high, and came in well below the 1.2% drop that market analysts had expected. February’s fall marked the thirteenth consecutive decline in industrial production.

According to INDEC, February’s print reflected a broad-based contraction in manufacturing activity. The largest drops were recorded in the textile, automotive, petrochemical and agricultural sectors.

The accumulative average variation in industrial production in the first two months of the year was minus 3.5%.

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:, Economist

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Argentina Industry February 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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