Argentina Industry November 2019

Argentina

Argentina: Industrial production contracts at sharper pace in November

January 8, 2020

Industrial production fell 4.5% over the same month of last year in November, according to data released by the National Statistical Institute (INDEC) on 8 January. The reading marked a more pronounced contraction than October’s 2.0% year-on-year drop.

In November, the sharpest contractions were recorded in the production of automotive and other transport equipment and metal products. On the other hand, the manufacture of furniture and oil refining recorded the softest drops.

Meanwhile, the annual average variation in industrial output rose from October’s minus 8.4% to minus 7.6% in November.

Panelists participating in the LatinFocus Consensus Forecast expect that industrial production will contract 4.4% in 2020, which is down 0.3 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 November 2019

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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