Buenos Aires Times

economy ECONOMIC INDICATORS

Manufacturing fell 6.8% in October year on year

Manufacturing in Argentina fell 6.8 percent in October year on year, a sixth consecutive month of decline, the INDEC national statistics bureau reported Tuesday. 

Wednesday 5 December, 2018
Manufacturing shrank by almost seven percent in October, compared to the same month the previous year.
Manufacturing shrank by almost seven percent in October, compared to the same month the previous year. Foto:NA

More Economy News

Manufacturing in Argentina fell 6.8 percent in October year on year, a sixth consecutive month of decline, the INDEC national statistics bureau reported Tuesday. 

The decline, a fall of nearly seven percent on the same month in 2017, was led by sharp falls in textile, metal, rubber and plastic production. Nonetheless, the drop in industrial production was nowhere near as drastic as that witnessed in September, when activity shrank by 11.5 percent, the largest registered since May 2009.

In the first 10 months of the year, according to INDEC's Monthly Industrial Estimate (EMI), manufacturing has fallen by 2.5 percent, with firms hit hard by a decline in economic activity and the devaluation of the peso against the US dollar.

In October, the biggest contractions in activity were registered in the textiles (minus 23.4 percent), metals (minus 21.3 percent) and rubber and plastics (minus 17.2 percent) sectors. 

However, according to those questioned, 59 percent of companies said they expected demand to increase in the next three months.

The International Monetary Fund (IMF) predicted recently that Argentina's economy will shrink by 2.6 percent this year, with a further 1.6-percent contracted seen for 2019.

- TIMES/AFP/NA

Op-Ed

Top Stories

  1. 1Buenos Aires Book Fair returns for 2019: what to look out forBuenos Aires Book Fair returns for 2019: what to look out for
  2. 2Political FOMO
  3. 3Government unveils raft of measures to tackle rising inflation
  4. 4Moyano-aligned unions confirm general strike against Macri gov't on April 30
  5. 5Apr. 15th-21st: What We Learned This Week
  6. 6OECD: Argentina's economy will shrink in 2019, but less than expected
  7. 7Swedish tourist loses leg after attack by mugger in downtown Buenos Aires
  8. 8Cristina Fernández returns to Cuba after death of mother Ofelia Wilhelm
  9. 9Of betrayal, notebooks and dollars
  10. 10Latin America’s amazing history of publishing in English