Argentina: Industrial output growth wanes in June
Industrial output rose 19.1% in year-on-year terms in June, which was a softer expansion than May’s 30.2%. Looking at the details of the release, the reading largely reflected a slowdown in the manufacture of metal products as well as in the production of automotive and other transport equipment.
On a calendar-adjusted monthly basis, factory output rebounded notably, rising 10.5% in June (May: -5.6% mom), the best result since June 2020. Meanwhile, annual average industrial production growth rose to 11.8% in June (May: +9.6%).