Argentina: Industrial output growth slows in February but remains solid
Latest reading: Industrial production expanded 5.6% year on year in February (January: +7.6% yoy), the third straight month of growth. February saw strong year-on-year expansions in machinery and equipment, food and beverages and automotive vehicles output, while metals and chemicals production fell.
On a monthly basis, factory output rose 0.5% in seasonally adjusted terms in February, contrasting January’s 1.2% fall. Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at minus 7.0%, up from January’s minus 8.0% reading.