Argentina: Industrial output contracts in January
Industrial production fell 0.3% year-on-year in January (December: +10.4% yoy). Looking at the details of the release, the reading largely reflected declining output in the manufacture of food, beverages and tobacco and automotive and other transport equipment.
On a calendar-adjusted monthly basis, factory output shrank 5.5% in January (December: +1.2% mom). Meanwhile, annual average industrial production growth declined to 15.4% in January (December: +15.8%).