Argentina Industry

Argentina

Argentina: Industrial output falls for 14th consecutive month in September

October 31, 2014

In September, industrial production fell 1.7% over the same month last year, which was above the 2.9% drop recorded in August. September’s reading undershot the 2.5% contraction that markets had expected and marked the fourteenth consecutive decrease in industrial output. The drop in industrial production was mainly driven by a substantial decline in both the automotive and oil refinery industries.

On a monthly basis, industrial production fell 0.3% in seasonally-adjusted terms, which marked an improvement over the 1.3% contraction registered in August. Annual average variation in industrial production continued to deteriorate, falling from minus 2.7% in August to minus 2.9% in September, which marked the lowest reading since February 2003.

LatinFocus Consensus Forecast panel participants expect that industrial production will decrease 2.8% in 2014, which is unchanged from last month’s forecast. For 2015, the panel expects industrial production to increase 0.5%, which is also unchanged from last month’s Consensus.


Author:, Economist

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Argentina Industry September 2014

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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