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%.
Author: David Ampudia, Economist