Argentina Industry March 2020

Argentina

Argentina: Industrial production dives amid lockdown measures in March

May 7, 2020

Industrial production tumbled 16.8% year-on-year in March, according to data released by the National Statistical Institute (INDEC) on 6 May. The reading follows February’s softer 1.0% year-on-year decrease.

March saw a broad-based contraction in all sub-components of the index. The sharpest falls were recorded in the production of other equipment, apparatus and instruments, textiles and automotive and other transport equipment.

Meanwhile, the annual average variation in industrial output dropped from February’s minus 4.7% to minus 4.9% in March.

Panelists participating in the LatinFocus Consensus Forecast expect that industrial production will contract 6.3% in 2020, which is down 4.3 percentage points from last month’s forecast. For 2021, the panel expects industrial output to rise 3.3%.


Author: Massimo Bassetti, Economist

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Argentina Industry March 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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