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.