Argentina Industry

Argentina

Argentina: Industrial production contracts less in March

April 24, 2015

In March, industrial production fell 1.6% over the same month last year. The reading was above the revised 2.2% drop observed in the previous month (previously estimated: -2.1% year-on-year) and marked the highest level in eight months. March’s result was driven by a notable decrease in the textile and food industries. Although both continued to post declines, the contractions were much less pronounced than in the previous month.

On a monthly basis, industrial production in March fell 0.6% in seasonally-adjusted terms, which followed the 0.4% drop seen in February and marked a three-month low. Despite the contraction recorded in March, annual average variation in industrial production rose from February’s minus 2.6% to minus 2.2%, the highest level since June 2014.

LatinFocus Consensus Forecast panel participants expect that industrial production will decrease 0.7% in 2015, which is unchanged from last month’s forecast. For 2016, the panel expects industrial production to increase 2.8%.


Author:, Senior Economist

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Argentina Industry Chart


Argentina Industry March 2015

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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