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.

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