Argentina: Industrial output falls for 16th consecutive month in November
December 29, 2014
In November, industrial production fell 2.1% over the same month of the previous year. The reading was below both the 1.8% drop recorded in October and the 1.3% drop that the markets had expected. November’s result marked the 16th consecutive decrease in industrial output. All sectors that comprise the overall index deteriorated compared to the previous month of 2013, except for the chemical and rubber industries, which recorded a slight increase.
On a monthly basis, industrial production dropped 1.1% in seasonally-adjusted terms in November, which contrasted the 0.2% expansion recorded in October. Despite the deterioration in annual figures, annual average variation in industrial production inched up from minus 3.0% in October to minus 2.8% in November.
Author: Cecilia Simkievich, Economist