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.
Author: Cecilia Simkievich, Economist