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Double digit fall in Argentina's production

Jul 12, 2019 Argentina
Double digit fall in Argentina's production
Bad news continues for the Argentinian industry. According to the latest technical report issued by the National Institute of Statistics and Census (INDEC), production in the country fell by 6.9% in the month of May, in comparison to similar period in 2018
Argentina's production declined by 6.9% in the month of May, in comparison to similar period in 2018. Despite having grown by 0.6% in the month of May compared to April, accumulated loses in the year already reaches 9.8%.

The drop is generalised across most categories, with special note to the performance of the sectors of automotive (-26.0% decline compared to similar period in 2018), equipment, devices and instruments (-25.8%) and furniture (-18.5%).

Textile, clothing, leather goods and footwear also presented a two-digit decline: according to INDEC's data, production in the above-mentioned sectors has contracted 14.9% during the month of May, compared to May 2018. In the first five months of the year the decline already amounts to 12%. The decline is taking place across the the segments: in May, and compared to similar month in 2018, clothing production declined by 14.7%, leather and leather products declined by 8.4% and footwear drop by 6.9%.

According to the same source the weak demand in the Argentinian market is heavily impacting the levels of production of the country's industry.

Photo by Victor Garcia on Unsplash


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