Argentina: Industrial production contracts at softer pace in October
Industrial production fell 2.3% over the same month of last year in October, according to data released by the National Statistical Institute (INDEC) on 5 December. The reading marked a less pronounced contraction than September’s 5.1% year-on-year drop.
In October, the sharpest contractions were recorded in the production of automotive and other transport equipment and metal products. On the other hand, the manufacture of food, beverages and tobacco recorded a marginal expansion.
Meanwhile, the annual average variation in industrial output rose from September’s minus 8.9% to minus 8.4% in October.