Argentina Industry August 2019

Argentina

Argentina: Industrial production contracts at sharper pace in August

October 3, 2019

Industrial production fell 6.4% over the same month of last year in August, according to data released by the National Statistical Institute (INDEC) on 3 October. The reading marked a steeper contraction than July’s 1.8% year-on-year drop, which had marked the softest decrease since May 2018.

August’s result generally reflected sharper contractions across the board. The production of food, beverages and tobacco was the only sub-sector to record an expansion, although it was much softer than in July. Moreover, the category of automotive and other transport equipment continued to contract by over 20%.

Meanwhile, the annual average variation in industrial output remained unchanged at July’s minus 9.5% in August.

Panelists participating in the LatinFocus Consensus Forecast expect that industrial production will contract 4.4% in 2019, which is down 0.3 percentage points from last month’s forecast. For 2020, the panel expects industrial output to rise 2.4%, which is down 0.4 percentage points from last month’s estimate.


Author: Massimo Bassetti, Economist

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Argentina Industry August 2019 0

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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