Argentina: Industrial production contracts less in April
May 26, 2015
In April, industrial production fell 1.5% over the same month last year. The reading was slightly above the 1.6% contraction seen in the previous month and marked a nine-month high. April’s result was driven by a notable decrease in the textile and food industries. Although both industries continued to post declines, the contractions were much less pronounced than in the previous month.
On a monthly basis, industrial production in April expanded 0.4% in seasonally-adjusted terms, which contrasted the 0.5% decrease seen in March and marked a three-month high. Annual average variation in industrial production rose from March’s minus 2.2% to minus 2.0%, the highest level since May 2014.
Author: Dirina Mançellari, Senior Economist