Argentina: Industrial production swings to contraction in October
December 3, 2015
In October, industrial production dropped 2.5% over the same month last year. The reading contrasted the 0.1% expansion seen in the previous month and was the first contraction in five months. October’s result was mainly driven by decreases in the production of textiles as well as of food and beverages.
On a monthly basis, industrial production contracted 1.1% in seasonally-adjusted terms, which followed the 0.8% decrease seen in September and marked a 10-month low. The annual average variation in industrial production dropped from a flat reading in September to minus 0.2% in October, which marked the lowest reading in three months.
Author: Dirina Mançellari, Senior Economist