Argentina: Industrial output falls for 15th consecutive month in October
December 1, 2014
In October, industrial production fell 1.8% over the same month last year. The reading was slightly below the 1.7% drop recorded in September, but notably overshot the 3.2% contraction that the markets had expected. October’s result marked the fifteenth consecutive decrease in industrial output. All sectors that comprise the overall index deteriorated compared to the previous month last year, except for the chemical and rubber industries, which recorded slight increases. The category that registered the sharpest decline was the automotive industry again.
On a monthly basis, industrial production rose 0.2% in seasonally-adjusted terms, which contrasted the 0.3% contraction registered in September. Annual average variation in industrial production continued on the downward trend that began in February 2014, falling from minus 2.9% in September to minus 3.0% in October.
Author: Cecilia Simkievich, Economist