Argentina: Industrial activity contracts at a sharper pace in August
Latest reading: Industrial output dropped 6.9% year on year in August (July: -5.4% yoy). The reading was primarily driven by sharper contractions in vehicle, machinery and equipment, and chemical products production.
On a seasonally adjusted monthly basis, industrial production rose at a softer pace of 1.5% in August (July: +7.2% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 10.8%, down from July’s minus 10.4% reading.