Argentina: Industrial production contracts less in August
September 30, 2016
In August, industrial production contracted 5.7% over the same month of the previous year, according to the latest data released by the National Statistical Institute (INDEC). The reading was an improvement over the 7.9% decrease observed in the previous month.
According to INDEC, August’s contraction was due to an increase in the food industry, which expanded 0.4% on an annual basis. The refinery industry dropped again in August, but the contraction was softer compared to the decrease recorded in the previous month.
Author: Dirina Mançellari, Senior Economist