Argentina Industry January 2020

Argentina

Argentina: Industrial production dips at 2020 outset

March 5, 2020

Industrial production dipped 0.1% year-on-year in January, according to data released by the National Statistical Institute (INDEC) on 5 March. The reading contrasted December’s 1.3% year-on-year increase, which had marked the first expansion after 20 consecutive months of contraction.

In January, the sharpest falls were recorded in the production textiles and of non-metallic mineral. On the other hand, the manufacture of automotive and other transport equipment and of food, beverages and tobacco logged the sharpest drops.

Meanwhile, the annual average variation in industrial output rose from December’s minus 6.2% to minus 5.9% in January.

Panelists participating in the LatinFocus Consensus Forecast expect that industrial production will contract 1.9% in 2020, which is up 0.4 percentage points from last month’s forecast. For 2021, the panel expects industrial output to rise 2.4%.


Author: Massimo Bassetti, Senior Economist

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Argentina Industry January 20 20

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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