Argentina Industry February 2020

Argentina

Argentina: Industrial production contracts at sharper pace in February

April 7, 2020

Industrial production fell 0.8% year-on-year in February, according to data released by the National Statistical Institute (INDEC) on 7 April. The reading follows January’s softer 0.3% year-on-year decrease.

In February, the sharpest falls were recorded in the production of automotive and other transport equipment and of furniture and other manufacturing industries. On the other hand, the manufacture of food, beverages and tobacco as well as the refinery of oil and the production of chemicals and of plastic products increased.

Meanwhile, the annual average variation in industrial output rose from January’s minus 5.3% to minus 4.7% in February.

Panelists participating in the LatinFocus Consensus Forecast expect that industrial production will contract 2.0% in 2020, which is down 0.1 percentage points from last month’s forecast. For 2021, the panel expects industrial output to rise 2.4%.


Author: Massimo Bassetti, Economist

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Argentina Industry February 20 20

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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