Argentina: Industrial production remains in the doldrums in October
November 30, 2016
In October, industrial production contracted 8.0% over the same month last year, according to the latest data released by Argentina's National Statistical Institute (INDEC). The reading was a deterioration from the 7.3% decrease observed in the previous month, marked the ninth consecutive drop and exceeded the 6.2% fall that market analysts had expected.
According to INDEC, October’s print reflected a steeper contraction that in September in the textile and chemical industries as well as in base metals output. Conversely, the drop in the refinery and automotive industries softened in October.
The accumulative average variation in industrial production in the first ten months of the year was minus 4.9%, which marked a deterioration from the minus 4.6% in the January-September period.