Argentina: Industrial activity improves in February
Industrial production dropped 9.9% year on year in February (January: -12.2% yoy). February’s softer drop largely reflected less pronounced contractions in machinery and equipment, chemical products, food and beverages output and automotive vehicles production.
On a monthly basis, factory output decreased 0.7% in calendar adjusted terms in February, a smaller contraction than January’s 1.3% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.7% in February, down from January’s minus 3.1%.