Argentina: Industrial production contracts at sharper pace in August
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.