Industrial Production Falls in Argentina

For the fifth consecutive month, industrial production fell in Argentina. In May a fall of 1.7% as compared to the same month a year earlier was recorded, said Indec, the Argentinian government statistics body.

In their monthly distributed bulletin Estimador Mensual Industrial (EMI), Indec pointed out that production in May fell 0.2% as compared to April of this year.
The fall was particularly pronounced for steel and aluminium producers which fell 35.2%  year-to-year in May.
The automakers production fell 20.7%, textil industry 12.2% and petrol refineries by 5.4% in the same period.

Not all was bad, however. The chemical industry (12.7%), food & beverages (11%), plastics (10.1%), paper (6.8%) did increase production in the period in question.

These are the official government statistics. The Fundación de Investigaciones Económicas Latinoamericanas (FIEL) has other figures which are more dramatic than the Indec’s.

[Source: La Gaceta, Argentina]