Argentina: Industrial activity falls at sharper pace in June
Industrial output collapsed 20.1% compared to the same month of the previous year in June, which was a deterioration from May’s 15.0% decrease. June’s figure was due to sharper declines in several subsectors, including machinery and equipment, basic metals, food and beverages, chemicals and automotive vehicles.
On a monthly basis, industrial production dropped 1.6% in seasonally adjusted terms in June, which was greater than May’s 0.3% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 10.3%, down from May’s minus 8.8%.